I'd like to develop a solid business plan but to honest I'm not sure where to start or what all to include in a well formed business plan.

I would first say it depends on how many properties you wish to purchase, the size of the properties (land square meters) and which area/zone you plan on investing, and if you plan to take on commerce and labor activities such as building and developing.  

Here are my thoughts: Cons:- The developer takes most of the margin (Expensive).- Limited upside (no sweat-equity)Pros:- No improvements are needed.- More longevity (Easier modeling of CAPEX)- More lucrative/easier to rent.Did I miss anything?

I'll need to find or develop a decent spreadsheet for cost estimates now. 

A local developer who had his fingers in many pies and was known to be fair and to do good work, said he had a garage behind an apartment building for rent.

I am an active multifamily investor/developer with two development projects under way.

This past year I've really had this strong urge to break out of this cycle I am in so I have been working hard at developing a team for next season who can take over most of the work and free me up to do what I really want to do. 

Find some areas online that you see a lot of development, and then drive the neighborhood taking notes of the properties that look like they're not being taken care of. 2) Propstream I have heard is a good source, however its not free.

@Sophia BahenaSomething that hasn’t been said, is that there can be tremendous advantages to having a network of others who are already operators in real estate.Some property management firms can be deceptive, in that they are just a self management arms of real estate developers.

Learn, connect with others who are more experienced, develop a plan, and be consistent in taking action steps every day to achieve that plan.Being disciplined to be consistent is key.