The performance of your particular asset... real estate markets... lending markets... interest rates... general economy... 

I have the chance to develop a 35 door BTR project that happens to be in an opportunity zone.

I found this deal off market and found agreeable terms with the seller involving a midterm lease during renovation.

- Are there specific market conditions or trends in 2024 in Charlotte or Louisville that might influence your choice?

My worry is that the property might fall into probate or tax auction once he passes and someone who knows someone will get the deal under contract before it reaches public offering.There is a real estate agent in the area that gets about 85% of all the listings in the micro-market, so she is farming these properties constantly. 

Maybe % of purchase price (though that would mean low estimates for killer deals, and higher estimates for hot market properties)?

My concern here is that depending on where your property is located, that might not be the market standard in that neighborhood.

Joined BiggerPockets in order to find local meetups in order to network and develop relationships with other investors/lenders

Hopefully along the way your properties appreciate, you pay down debts  (mortgages) from operating income, and you get market appreciation on what you can rent each unit for - giving you more income each month. 

I am a resident of Dallas, TX, interested in entering the San Antonio market.