you have to define developer.. there is a lot of niche's in the development world.

I had followed that house for a few month and it did not sell.

I have a STR house in a resort town, but the city’s new stricter policies have really cut into my revenue.

This is because instead of developing the highly targeted profitable sales, you’re spending your time servicing the marginal.

Some places have pretty cheap housing and maybe even free housing in smaller or more rural cities. 

They typicallyrequire a larger down payment and may have shorter terms, but they can be agood option if your goal is to hold the land for future use or development.Subdivision Loans: If you planto divide the land into smaller lots for resale or development, a subdivisionloan could be the right choice.

It's not huge at 2200 sq ft for a 5 bedroom house, but they are usable bedrooms. 

Developing mitigation strategies for high-risk areas helps reduce the project's overall risk profile.

If you do, think 25% down for an investor unless your going to house hack and live in one of the units. 

The best thing an out of town investor can do is develop strong relationships with locals who are active and knowledgeable in the real estate investment world in STL.