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Updated over 7 years ago,
I can build 12 units on $450k land. Is this a good first investme
My offer was accepted on a 1.25 acre "urban residential"zoned lot that currently has two - 2/1 SFH's bringing in $2100/mo and a 3 br mobile home in the back that i would need to owner occupy as i am using an FHA. This property is said to be zoned as per the description in pic below. Also once i secure this and move in keeping the 2 homes rented and me living in the back for a small amount. Do i have the leverage to offer an investor a percentage or how would someone usually structure this split. Should i just get hard/private money and do all plans/construction or take on parnter for more percentage of the deal.