Once you have adopted your own pricing structures, its an easy for to develop from.  

The developer that built that building, instead of coming up with the needed capital to buy the land and then develop it, can cut his capital needs greatly by leasing the land with the rights to build on it.  

Unfortunately, you're probably reading that MFH are dried up right now and it's true- you'd have to dig dig dig to find a motivated seller and use some more creative techniques to find the right property.

Then I would look at the future land use map and how strong is the county and or city economic development and are they pro-growth?

Look at the makeup on the North side, there are not many condo buildings once you get away from downtown or the lake, and there are not many bigger lots to develop them on.  

Question to the local investors:  is the are coming up, i see a lot of new construction/ developments in the area, but when i look at the prices on Zillow i do not see a big rise.  

If you are to develop equity quickly I would advise to flip houses and new allotments in the 1031 exchange programs allow you to access bridge loans to source properties while you are bound with your initial investment as long as your equity from your first transaction is already allocated through your QI 1031 exchange.

Good Afternoon Ramon,Do you consider development projects?

Studying their marketing and advertisement as much as you listed to the other stuff and see how you can adapt those marketing techniques for yourself.

I am a furniture designer from Milan (Italy), currently living and working in New York.I love very much to travel, develop my projects and live my life at 360, and I have been looking for a while for a way to become financially free and to make more money out of my time.I was happy to find Bigger Pockets in my search.I will start learning from the basics of real estate investing, working hard and hopfully having some fun, I look forward to explore the forum and to know many of you.