Maybe about 10% are improved properties, another 10% lots, and the rest time shares at a variety of developments including about a dozen at Four Seasons.

is this a vacant lot you are trying to develop or a property with a building already on it? 

New construction developments are often in areas with good schools as well which can limit vacancy. 

Often, by that age, there is a build up of scale on the inside, and the pipes will develop a crack for much of the length of a section.

I’m looking to connect with developers who have experience with waterfront projects.

Screening tenants is a skill that must be developed over time through experience, but you can cut the time by getting education on the subject from books and other training.

I am getting very, very, very good at developing market intelligence for my area.

A homeowner can also buy down the buyers rate, cover closing costs, and offer design credits.Your analysis is only valid in the circumstance where a person purchased a SFR recently in a newly developing area and paid a the same or higher price than builders are currently charging.  

Don't start out too big and learn the process and develop your systems early so you don't end up being in over your head with a big deal before you're ready. 

Investors just add contingency to their underwriting for every deal, and then take whatever punches that come after purchasing.I probably speak for all of us that you develop a template for each deal, you can get 80% of the risk into the spreadsheet.