Most of the city is relatively new development. 

However there is no reason one person could do all the work and the other person puts in all the money, and you split 50/50There are many factors regarding what each of you brings to the table.

Our developers are currently working on it.

Should I focus on just securing funds for the down payment and closing costs or should I be concerned about creating some sort of reserves for said rental property (to account for any vacancies and expenses)I assume I need to make sure that in the event I cannot rent out the property we are able to cover the expenses relating to this house in additional to our own personal mortgages but I’m not too worried about this (please let me know if I should be worried)Outside of my mortgage and some credit card debt which will be paid off by the end of this month I do not have any other debt.Are there other factors that I should be considering?

Did they developed?

Are there any other factors we should consider?

The rents in there may currently be too low to warrant development and construction of a nice, new 15k SF building now, so I'm looking for ideas for land banking with cashflow.

That being said, we are starting to see some increased CDOM/DOM for the higher-end development deals here in the affluent areas of town, because the numbers don't work.  

What I like about this bank is that once I got on the phone with someone in the Business Development department, I felt like it was an exciting brainstorm sessions in this exact section of bigger pockets. 

In this way you can control the rights to the property and approach tenants to negotiate an LOI and then execute a lease before closing on the property/If area is good generally demand is there unless developers are slamming up so much product there is an oversupply to demand.