How to Invest my Capital

[Sterling Clifton]

I have a little over 200k that I would like to invest in a multi-family unit/apartment. I have been pondering on whats the best way to go about this. I own a piece of land that I could have maybe a 12 unit apartment built on, but with the price of wood so high, I'm not sure if that's a great idea. When looking at some multi-family homes that are on the market already, they all just seem so run down that it would just be a huge hassle to deal with, let alone attract any decent tenants. 

Not sure what the best option is and I'm open to other options.