You need to know your market and for want of a better word develop a philosophy for your purchase.

I develop my own with help from hired independent contractors.

Or brand new developments. 

I personally know and have developed a relationship with my tenants. 

If your in development its very common for the city to ask for them on a new street or in front of a new project.

Dear Bigger Pocket members,I have a group of out of the country investors which are very interested to invest in new construction development in Los Angeles, mostly multiunit projects.I would love to get some experts opinion on the subject.Acquisition costs, prices to build per sf, average lot (ready to build) and any other useful info.I am aware that I may not asking all the right questions, but I have to start somewhere.Thank you !  

Adrian, Yes, there are many investors/developers already doing this.  

The Reia in the area has a lot of local people that attend the monthly meetings.Basically any question that you have can be answered for immediate feedback or you can read the archives of previous conversations.I recently wanted to read about development and found many old forum conversations as well as blog posts on the subject.Best of luck.Ryan

Our attorney quoted another $500 to $1000 to develop the articles of organization and complete the other documentation.

We have seen a lot of development in the past 1.5 years.