First, you should know what developers are aiming for in terms of dollars per square foot.

I'm not sure where this idea of "getting hit hard" with taxes comes from.US tax rates are lower than they've ever been (too low looking at our record deficits) and the LOWEST of any "developed" nation.Anyway, to your question.

Now due to circumstances beyond their control, things have been through out of whack and they need someone to get everything reorganized for them.

If every year you end up with a net gain of only 3 or 4 paid for, $400/month rentals, you'll be f**ting through silk in just a few years.When you go to borrow $20K and realize that you're going to pay $4K IN C**P FEES, for which you get NOTHING, you'll come over to the "dark" side.There's an expression developed regarding the stock market but it's equally applicable to the RE market as well: "Bulls make money, bears make money, hogs go to slaughter."

You may not need an investor for additional cash.As said above, you need to know what the project is worth after development.

The subsequent owner dropped the section 8 contract, repositioned the building, and rented to many of the former section 8 tenants who were able to improve their circumstances.

But long term I would to develop warehouses, apartments, skies the limit :mrgreen: But for my first one I am mostly concerned with learning more than making a huge profit.

As such, most jurisdictions limit Landlord/Tenant disputes to a specific venue, in all but the most egregious circumstances.

I am assuming the NV side for tax purposes etc. but I am curious about new developments for a good vacation rental property. 8)

I am not a contractor myself, but as a former developer of software systems the systems of a house are quite simple by comparison.