Building a fourplex

[Kyle Bethune]

Good morning all, I have a .5 acre piece of property zoned residential. It has an old house that I keep rented, but the property has negative cash flow. My question is would I be wise to clear the land and have a fourplex built? I am thinking 4 2/1 units. In my area I should be able to fetch $800 per. What is involved in this that I might be missing? Any thoughts are welcome and appreciated.