Best of luck to you with your expansion plans.  

My understanding is that Cap rate expansion in an economic down turn can still hurt you even with a value-add play.

Also If I could get the 48 lots filled I could go into a phase 2 expansion for about another additional 100 lots for a total of 148 lots. 

Theyre trying to allow expansion to SFRs in California with AB 1506I've heard in grapevine that this is why Blackstone and some institutional investors got out of SFR investing in California they already knew there were talks about repealing Costa HawkinsAB 1506 will affect every home owner in California and hurt cities

There is nothing dangerous about it and if you were getting creaking/popping from expansion and contraction being different between the sill and the floor joist a 2x4 or strip of plywood secured to both would fix it.

Had a company that AHS sent over last year that replaced a heater, no issues.Different tech this year, same subdivision, different property, same setup (no pressure reducing valves and no pressure tank), and tech claims it needs "Sediment trap, expansion tank, T&P modifications, and permit", essentially more than what AHS says the new tank itself is worth.Figured I'd ask here if anybody knows the exact regulations, because the tech seems not to want to explain anything other than "We can't tell you by law, only American Homeshield can, we've told them what it needs".

Search for St Jude expansion or Crosstown redevelopment for two of these.

Re; cap rates for instance, a super strong market / submarket will damper cap rate expansion to some extent.  

We are a small real estate brokerage with some pretty aggressive expansion plans.  

Bothell has really grown with the expansion of the UW Campus and the new downtown, its really taking off.