Very beautiful suburban area with lots of development happening in the area...well, last time I was there which was sometime last year.You've definitely come to the right place for your real estate investing career. 

I know the margin might not be great, but we're willing to play the long game on this part of town. 

Your dilemma is exactly why I took my properties back and developed a software to simplify management so I can do it myself. 

You may also hire licensed contractors and sub contractors as the owner of the business/property.Not in Oregon you need a license to flip houses.. its called a developers license..

Congratulations on being "ahead of the game" with a property already under your name and trying to build your portfolio and continue your father's legacy. 

If so, are there any areas to avoid or areas which are being developed?

With all these new developments there is also quite a large scale apartment development mid way through completion.

However, maybe I'm not thinking deeply enough.What other ways could investors approach a development of this size?

My primary job is land brokerage for new development, in fact I’m working on deals in your area: San Dimas, Glendora, etc.

The reason you are seeing so many for rent/lease signs is due to how over built the town is now because all the student housing developments. i.e Parkwest, Aspire, The Barracks etc..