I've been working with Seller's to get development properties on the Market - 3 in the last two weeks.

Look for value add, development opportunities, up and coming markets and undervalued assets. 

I deal with a municipality, two electric companies, a natural gas provider, and a water provider.

My totally uneducated theory and please poke holes in it, is that rents will gradually stop growing and/or decrease as developments  reach the lease up phase.

@Kevin Fox the city council is voting Monday to eliminate Development and Impact fees, which will make this 8-20K cheaper to permit.

I deal just outside of those areas and I am getting 700 rent which is 8400/yr = 4200 NOI and selling houses with those numbers in the 20s. turn key. so paying 25k you would have a 16 CAPThere are a TON of ways to analyze, but this way is Conservative. and when wrong, you end up with a higher ROI. 

Low income is being forced out of Austin, it is a shame but the development going on is generally targeted to higher end subdivisions.  

This would be the ideal time.  

They will be screened like everyone else;Once approved, they must pay a $50 administrative fee to cover our staff time;Tenant must review the lease and all addendums, agree to them, and sign them.Pretty simple but you should use this opportunity to develop a process and put it in writing so you're prepared for the next time.

The ones that are here are brand new, on newly developed land and not for sale.Any advice on what I should do?