A little higher with tax benefits factored in.

As someone in an earlier post said, there are too many factors out of a builder's control to just agree to a firm completion date with penalties for not being completed by then. 

Last time real estate took down the economy, but I believe this time around the economy or some other factor will take down real estate, but not as low as back in 2007-2008 time period.Since the last recession, the percentage of people buying houses with cash or conventional financing is higher than previous recession, so people have tons of equity.I would be more concerned about excessive govt spending, social program deficits and govt debt..

The following factors should be taken.Investment Strategies: House Hacking, BRRRR (Buy, Rehab, Rent, Refinance, Repeat), Long-Term Rentals, Location-Independent Investing tc.Dallas can be a choice, since it is a growing market with job opportunities and a lower cost of living.

I had a trustee's fee on the Hud1 for my "wholesale fee".

I am kind of tired with STR investments up there.I do not think there is great value in LTR in that zip code, The economy is not so great there so it is not like there are many jobs and people move there for jobs.Finding good contractors is another pain most of them do not show up or do not do a decent job.Even cash flow might not be great considering you will have to pay community fees etc.

Even if you need to build single tenant maybe 200 a foot to 250 a foot so 600 to 700k costs before TI, leasing fees, and legal fees, etc. 9,000 sq ft center likely 2 million plus to construct.

But I would be aware of paying any upfront fees and it could be a good idea to vet the company as high-leverage opportunities can be places for scammers to make quick money off of first-time investors. 

@Alex Ng Hey buddy, you could always reach out to some sub to guys that would take it over for you, and you could get an assignment fee, then move on to the next deal without having to deal with the stress.

There are a lot of factors to this but I will try to give the reader's digest version.