With steel prices climbing, developers are facing significantly higher material costs, especially for multifamily and affordable housing projects that rely on steel for structural components. 

I have had a hard time identifying an affordable market for me because California definitely isn't affordable for me.

@Joe NA the property or properties you ultimately purchase are the ones that you identified in the 45 day period.

I'm considering buying a pre-construction home in East Bay, CA. known person from long time, now he becomes a developer.

Also note the carve out for those that might do land development.. where someone like me might tie up the dirt spend 10k or more ( usually though 50 to 100K) getting entitlements and flipping said contract to a builder developer. 

As a land development engineer my goal is to leverage my expertise by handling the plans and permitting for raw land development.

Since you're living in one unit and renting the other three, with separate tax bills, utilities, and addresses, you have a solid argument to treat the rental portion as a distinct investment property eligible for bonus depreciation.Here's how it works:You can only depreciate the rental portion (3 of 4 units).A cost segregation study can identify components (e.g., flooring, HVAC, appliances) eligible for accelerated and bonus depreciation.The unit you live in is not depreciable, but the others qualify for full investment property tax treatment.However, to use the losses against your W-2 income, you’ll need to qualify under Real Estate Professional Status (REPS) or the Short-Term Rental (STR) loophole.

By tracking actions and property KPIs, you can identify improvement areas and keep everyone working toward shared goals.Prioritizing accountability and team management leads to a high-performing real estate investment business.

Is there a list or a directory of Dallas builders/developers?

It's possible the lender might be okay with it .I think getting the right deal and developing the team you'll have for boots on the ground is possible.