Your deal underwriting should take into account the time, carrying costs and lobbying dollars required to rezone and re-entitle.Replacement Costs: Is the property in a densely populated area where space is at a premium, or is there nearby opportunities for greenfield development where a new development could be placed without the costs of demolition, rezoning, the shopping mall.Threat of Outside Competition:  Given the size and scale of these properties, you'll be competing against large institutional investors and existing mall operators like Simon and Taubman, who are well resourced, politically connected and have decades domain expertise.  

You can’t be a competent GC if you don’t understand the individual tasks to ultimately manage multiple tradesDo it yourself if you really are going to save yourself money and aggravation, ie maximize the use of your time.

@Jordan Bowley I don’t believe eXp has a non-compete however you cannot do PM under exp. it would have to be separate.

If you have legal questions, hire a competent lawyer to solve them while you’re still small, rather than making big mistakes at this phase.

Just remember they say to get at least 3 competing quotes whenever possible (more can be better if you can find them), and make sure you are comparing apples to apples with each quote.

The hardest part for me right now is competing with cash buyers.

The lending is a lot more flexible with some of the players out there. 

I think you need those fundamental skills to help you assess whether a syndication deal is good and if the management team is competent.

Just about every market has them and then you can get some feedback about local players and insight on contractors and neighborhoods, too.

Of course, that means you're competing against other investors that have a lot of money.The only way to learn about buying them is to go see a lot of them.