I've been down that path, as I had to liquidate my account to stay afloat on my first development, and I can tell the hit was big and not fun.

All else aside, given the amount of rent you could be charging it may be an idea to sit down and develop a long-term (2-4 year) budgetary plan for the unit/complex so that you can 1)gradually increase rents to a more uniform standard--as one member stated, "if they are all comparable units, there shouldn't be a drastic difference in the rent amounts" 2)eventually get all the units with equivalent or comparable upgrades (to keep things even with the neighborhood comps based on ammenities), and 3)ease your mind about the financial plan and trajectory of your complex (so you can just follow a predetermined plan and adjust when needed as time progresses).

My strong advice is to start attending some local real estate clubs to begin building these relationships and developing your resources.

Or an investor, developer, manager?

We couldn't let a piece like this go to be developed into 40 acre home sites.

We couldn't let a piece like this go to be developed into 40 acre home sites.

Of course, you have to get good at marketing for notes and/or developing your own referral sources.

Often these days the larger tenants are more demanding and you tend to make more money off the mid to small size tenants for the development as a main anchor or mid-size junior anchor wants a lot from the owner in concessions to go into a space.You mention (desirable retail location).

I forget off-hand which one it is, but in the fine print of the appraisal report there is a certification that states the appraiser had adequate data to develop a credible opinion of value - clearly they don't and should have withdrawn from the assignment.They don't have enough comps.

I enjoy trying out new restaurants that pop up all around the DC area, and am in the process of developing a Persian food blog and reviewing different kabobs in the DMV and beyond.