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.

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.

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.

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.

You also need to develop a good working relationship with your local building department and city officials (city council members, etc).

Keep marketing and develop a "spiel" where you can qualify the sellers so you reduce wasted time looking at houses that you can't buy because they are not motivated enough.

I am a land development planner out of Tucson, Arizona and in my experience the likelihood of getting a rezoning approved has a lot to do with the level of support from the jurisdiction and surrounding land owners.