I know school districts are a big indicator and have also read about looking at the city planning website for future developments...but not sure what to look for specifically. 

An overview can be found here.The CMHC web-site also has a mortgage calculator which will accommodate high-ratio, insured mortgages.My recommendation is to learn the underlaying principals, be able to perform the calculations manually and develop your own spreadsheet.  

Is it a wise choice to do this development?

To be specific, my steps to fully get into this world so far have been: Buy my first home Sign up to BiggerPockets website Listen to the first 5 podcasts (loving it)Send this messageEvaluate specialized Masters in R.E and meet with alumni and teachers plus attend one class as a guest observerMeet with friends working in the industry (mainly working for big Funds and Developers)Bought the 13 most widely recommended books in R.E.

There shouldn’t be any extra charges for mobilization or other upfront costs since he is so far into the contract.If not, then having given proper notices and record retention is important in “termination for default”.Otherwise, you guys need to figure out how to agree to part company.

I'm true salesman, I understand the power of cold calling, and developing high income skills, investing and build wealth at a young age.

We initially set up our VRBO accounts to Instant Book which didn't  give us the opportunity to properly vet renters.

Especially if the PM properly vets the tenant then the 10% of the rents is plenty, IMO.  

Have the correct insurance to cover STR activity in your home (Proper and CBIZ are the two major players in that area) AND have an umbrella policy in place.  

I have aspirations of flying for the airlines someday, but I also have aspirations of developing a RE portfolio that produces around 10k a month so I can have a FI lifestyle and live out some of my other dreams.