Questions and comments will naturally develop during the story.

There really are not other rehabbed mills in the immediate area to accurately compare this building to (though many new developments with 100-500 units) recently.

https://www.hudexchange.info/resource/729/sample-development-budget-and-operating-pro-forma-for-a-commercial-and/or-mixeduse-nsp-property/Plug the numbers into this pro forma to see what your real profit will be.

The development is still under construction  so I have time to do research.

I bought it in Metro Detroit, but recently Magic Johnson just partnered to do a development several blocks south of my rental.

While my background is in software development, I’ve spent a good amount of my free time trading equities/options, learning finance, and now looking into real estate.

Iv learned the money is in the development of the land.

This is for new construction, I want to minimize the development cost, some areas are ridiculous for fees.

Before getting into a deal passively I would recommend building a relationship with credible syndicators to see if their investment strategies match yours and if where they invest makes sense to you.Once you have developed a relationship and vetted the syndicators, then I would see deals that they offer.It's a long road but if you have any questions feel free to reach out.

I am looking to get going and think that a great starting point is to develop a team before hand as suggested by Brandon Turner.