I pay attention to local news, become familiar with local employers and government agencies.

(most deals this size would be non recourse)Best of luck on this deal!

In the San Francsico Bay Area 5000 square feet is a standard sized residential lot size except directly around San Francisco the lots are typically smaller than 5000 square feet.

Specifically:“The management of the property necessarily involved alterations and repairs…..it was also necessary to furnish elevator service, heat, light and water which required regular and continuous activity and the employment of labor, the buying of material and many other things which come within the definition of business”.

I mistyped 3900 and meant to say 390 acres, but just looked it up and Kelly Park Crossing development is actually 694 acres in size.

If it’s as simple of a size and design as you have stated just do it yourself .

We jumped into a new market and also into a new asset class (mid sized multis) in the last year and it has been great, we have bought a 12/19 and a 32 unit the knowledge I have gained has been amazing. 

Since the units are not the same size, I just bite the bullet and pay for the water. 

And it's $1.00 for any size.2.

On the plus side, I've flipped 2 properties of different sizes so I understand what my costs will be.