Distress MFH Financing- First Steps-Dos/ Don'ts

[Carmelita Sritragool]

I am a new investor and I am looking to buy a multifamily home. The only thing is that the home I am looking at is a highly distressed duplex. I have an idea of rebuilding it and converting it to a fourplex, which I know cost a lot of money. It's in an awesome up and coming area, but I have no idea where to start. My ultimate goal is to live in it and rent the other units out.

I was hoping if you can provide any advice for me about first steps, construction loans, financing, and/or rehab.

Look forward to the feedback.