Separate from the lack of necessary information, I'm not aware of any market in this country that can support the costs of ground up construction, particularly in the scale you are envisioning  where 2 bedroom units are renting for $1400 without significant subsidies. 10% max cost as a percentage of asset value on completion is a good rule of thumb. that is how we underwrite every market. 

Sounds like it would depend on how much the value increases by as you'd need to consider the equity and cash flow you'd make.

No "headaches" except for risk of near total loss of principle unless I put more money in...I'll take the risk of a project that I need to complete personally in exchange for a near-perfect risk/reward profile and complete understanding of the investment.

Is it complete? 

Important note: this is a completely free service.

Referrals are generally better than complete strangers. 

If I understand you correctly, he hasn't completed the Section 8 process, and your home doesn't meet the standards.

I ended up not investing for a few reasons even though the syndication sounded interesting:- They said they were oversubscribed but would still accept some additional funds.

I’m completely hands off, headache free.  

Now the problem is when they do drop rates (or talk there of) inflation will soar because the Inflation Ballon is still under a lot of pressure.As for shrinkflation it is real, and as much as I contend our current President is a complete and utter failure, he is right on that.