Charleston IS RED HOT for builder developer types. 

You're building equity and still have those great tax advantages.You should develop an exit strategy tho.

For the last several months i have been looking in my area for the right deals and lender to pursue my career as a developer.

With the investor, you might want to use some of the tools here on BP to lay out a professionally developed plan and show them that they could earn an attractive return if they were willing to carry the property.  

See Uniform Capitalization Rules earlier.The costs you can choose to deduct or to capitalize include the following.Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules;Research and experimentation costs;Intangible drilling and development costs for oil, gas, and geothermal wells;Exploration costs for new mineral deposits;Mining development costs for a new mineral deposit;Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; andCosts of removing architectural and transportation barriers to people with disabilities and the elderly.

The 2007 version is the for the same size development and area as now, a 4/5 story 15 unit multi-family condo bldg.

I am the daughter of a real estate developer and have loved the asset class for a long time.  

It is a cute, quirky home on an acre in a very desirable and developing part of town.  

I am a licensed sales professional and am interested in investing and developments.

@Jay HinrichsWhen you think about it most of the existing housing was designed to be lived in and not necessarily designed as an investment like commercial properties or land developement are.