Builing new apartments?

[Wally Klosner]

My partner and I just bought our first apartment four months ago!!! It's a four unit all 3/1. We cater mostly to college students, renting each room individually with shared common area, as it is within walking distance of our small town community college. It cash flows at 20%. We would really like to keep the ball rolling. Their is a vacant lot next door about the same size. Wondering if we should go after that lot and build new? Or go after other small apartments in town?