how many units and which sub-regions?

Waiting for bank, development of the site has not happened yet. 1st unit!

Once I did that, it became clear my bachelor pad was never going to cash flow, and I was better selling it, taking the proceeds, and buying something that will cash flow.Also compare your goals to your area -- I live in Philadelphia where unless you get properties at a discount, or off-market, you are buying at a premium, and are banking on major appreciations in the regional real estate market (which in Philly, can happen on a block-to-block basis) which are not a given.

Currently, we are developing a property in Chevy Chase DC. 

Although I would recommend that you learn to develop your own models as it will save you a ton of hassle and loss of brain cells in the long run.

Tampa Mayor Bob Buckhorn has been an advocate for the development, and economic investment for the area and his efforts are bringing results.Development Projects in TampaOver the past few years, Tampa has experienced higher rates of real estate investment, especially in large community projects.

.- Make sure you are getting a good Lender Title Insurance to secure your lien.  125% ALTA policies with no Western Regional Exceptions (also known as 2006 Extended Policy Coverage) are great for private bennies in California, and that may also be true of New York. 

There is a very attractive 10-year tax abatement that the government offers to qualifying buyers / developers. 

P.O.S. inspections were developed, I would argue, because municipality leadership was unable to devise programs to HELP homeowners with their properties. 

Be sure to check the condo development has been pre-approved for FHA loans, many are not .