Building Multifamily Homes in San Diego

[Christian Konn]

I'm going to have $200,000 in 3 years and want to build multifamily homes in San Diego by either developing on vacant land or demolishing cheaper homes in R4 zones.

Is it possible to get a construction to perm loan in the san diego area with $200,000 in the bank? If so then how much does the typical 4 plex cost to build in this area?

I am an active duty plumber in the navy and bring in about $29,000 a year plus $2100 a month in Basic Allowance for Housing (BAH). I'm saving my BAH to build investment property by renting out a friends room for $400 a month.

I've contacted a shipping container build group and they quoted me $80 - $150 per sqft plus architect, material costs and permit costs.

Would it be better to live in one to get lower interest financing?

Any advice would be appreciated. I'm just getting my feet wet and want to learn all of the ins and outs of building investment properties in the San Diego area.