There are markets where developers built product relying on the mentality "build and they will come" with no coherent thesis behind why and those are markets where there will truly be long term pain. 

But once you subdivide the lot and develop or sell the new back units, those are likely treated as separate properties for tax purposes—and they won’t qualify for the same exclusion.

I've been able to explore it using this website:https://981.jp/Because it is so weird, I feel like I can exchange a lot of value with other people who have developed some insights into that specific niche market.I want to find more out about the specifics of the process, if it's possible to get financing for it, what are the possible pitfalls etc.Does anyone have any insight to this?

You should develop a policy for whom you will reject and follow fair housing laws.

Staying updated on market trends and tenant preferences in the region will empower you to make well-informed decisions.Every experience, whether favorable or challenging, plays a role in your development as a property owner.

He has written several investment books and is the owner of Teton Land and Development Group in Jackson, Wyoming. 

"Developer" STEEVE RAYMOND who solicits investors on this website was exposed on the Chicago ABC News relating to numerous just FRAUD LAWSUITS filed against him by Chicago attorney Ana McNamara, Esq. for taking investor money for supposed building "Rehabs" BELOW IS THE LINK TO THE STORY:McNamara Legal McNamara Legal | Chicago IL

Columbus has strong job and population growth with Intel, Amazon, Google, Honda, Meta, Microsoft, and more developing here, so cash flow and appreciation both look great.

Being software developer full time I am not hands on with repairs, painting etc. which some people are very good.

Can't even look at new construction development with rents below $1100/m either.