I have heard speculation of McQueeney getting drained in the near future due to safety issues with the dams.

I am a do'er and don't mind getting my hands into DIY projects on a property that needs work, so I am really hoping to invest in the next year.

In my opinion, start the renovation project now.

As far as financing goes - make sure you use a loan officer and loan type that supports your type of future rental income.

If you ever in need of consultation when it comes to financing on future deals, let me know. 

I have a standardized Scope of Work project that I'd be happy to share for someone's review. 

All these questions swirled in my head as I contemplated this project.

I still estimate 5-5.5% as the future / long term mortgage rate).My Take: I agree.

It is always recommended to do a cost benefit analysis before doing a project to determine the feasibility.Whether using private money or not the cost benefit has to be addressed.It will affect investment and equity when measuring profit.

Those projects will then have "out parcels" where the developers will ground lease the dirt to McD for the McD team to then develop the lot and building.