Home 2 is owned free and clear and brings in 1850/month.

Property Managers want to make their lease up job as easy as possible and bringing a property up to like new condition is one way of doing that.

You could also bring in a partner to buy out 1/2 of your equity position. 

Eventually I would bring them out to meet ups with me as well.

When people bring up Subject To (very risky) and private money it's usually because they have seen a lot of scaling content.

- Question for investors: What can a developer, with less experience w/large scale deals, do to bring value to a more experienced developer?

We had a wholesaler bring this one to us.

The understanding you bring to each transaction, the ability to read between the lines, and the personal connections you forge are irreplaceable elements that complement the analytical power of AI. 

Dan, I appreciate the thoughtful response, many things to consider and certainly a lot of great information.For the expenses, yes at 33% I would agree it is a little thin.You bring up some great points as it relates to opportunity cost and the payback period with a large down payment.

While both involve finding and properly securing a site and bringing it to full entitlement, the ground-up process includes the land piece but gets way more involved and complex to execute.The full "Monty" for ground-up development needs to include financial literacy, an explanation of metrics, and how they work.