Apparently this is the case because condo developments are considered "non-warrantable" meaning the loans won't be backed by Fannie Mae or Freddie Mac.

Is this site part of a development or totally secluded?

Take advantage of Bigger Pockets and start developing relationships up here. 

@Tim Puffer Tim, do you develop your own self storage facility or buy them from secondary market?

He is also developing a marina and drystack and is pretty well connecting in the yachting community in Charleston. 

@Doug McVinua yeah I agree with the pattern of development in Phoenix.

Becoming a developer take years of in-the-trenches learning. 

If you could possibly share any spreadsheets or templates you use to help me develop my Excel spreadsheet, I would greatly appreciate it!

We just completed are first flip in Bow and just bought a 5 lot single family association in Hampton; We are excited and nervous at the same time, we weren't really looking for developments, but numbers worked out so we will see! 

With scenario 2 you can do a cash out refi on your current units and take that money to acquire more units...ideally utilizing the BRRRR strategy so you can keep growing faster and faster.