Does anyone know, or have a good idea, about the difference in returns on entitling & developing the land for each scenario, with final objective to sell to a builder to build and sell the structures him/herself.  

But, all of the areas around there are starting to develop as well. 

As you develop the park I would strongly recommend your homes be individually metered for water, sewer expense prorated and garbage paid by tenants via individual can service. 

Factor 8%-10% for a reliable property manager (use AllPropertyManagement.com).After that, you're golden.

Be skeptical of the developer's claims, as your property's value likely won't see substantial growth until the entire development is completed and sold, which could take several years.

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

There are too many factors to consider to just provide base rates for what you're asking. 

Quote from @William Dorrough: I currently either purchase and value add large scale multifamily properties or develop, and build ground up my issue with scaling is we have done this without brining in investors i have a great deal flow with a good track record im really looking to do more i have the capacity but have the need for more capital in one way or another  Scaling without investors can be tough, especially in multifamily.