A contract developed 10 years ago might be outdated in ways that will cause you an issue.

I've developed, use with all my coliving properties, and teach HPM (household-led property management). 

Develop YOU'RE strategy. 

You need to pay attention to things like rental demand, upcoming developments, and overall area growth potential.

I think development is getting more and more common since we're so undersupplied in housing. 

. - property had TDR trasnferable development rights and can be built 5 stories on it.

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

Their entity structures are most greatly influenced by business development, venue for securities related laws and taxes, none of which are relevant.

Flipping and other value adds is where the experienced investors are or if they are holding it likely is a development effort (such as adding a dozen ADUs).Good luck

PadSplit has developed a platform that aligns incentives among residents, property owners, and communities to make affordable housing possible for the private market.