. ~5% return.Spotted a development opportunity, for someone, a few days ago as I was cycling home from my brother's. 2350m2 (up to 5 sections) & 8 to 10 times as big as my equity. 5 minutes walk to edge of a big university (Canterbury).

Also some more creative private lending terms out there- 0% down, 2 points, 8% interest, profit split on the back end (2/3 to developer 1/3 to lender). 

My advice would be to find a property manager that also represents investors in the purchase/sell of properties in whatever area you plan to invest and try to develop a relationship with them.

I'm an investor in San Antonio that has previously only done SFR deals and am interested in townhouse development.

I want to find a nice location (I've been looking at Manitowoc and two rivers) and I am willing to spend more if needed.

Very nice, Bryan.  

Here in areas when water and sewer are brought into a development, you have assessments of $15-20k, which can be added over 20 years or so to the tax bill.  

I live in a really nice apartment.  

@George Kountoupis NICE!  

I developed criteria that reduce the risk that the investment does not perform well.With that approach, I am about 2 more properties away from achieving my goal.