New Construction Multi-family in NC

[Mike Hege]

I have older multi-family units that need consistent repairs / reserves for future repairs.  

I'm looking to build small multi-family (duplexes) in the general Charlotte NC area. Land basis $25K or less. Construction costs $70/SF. All in cost: $200-$250K.   2 story (3 beds / 2 bathrooms per side)

Projected cash flow:  $2,500/month. 
Have you invested in Multi-family and/or considered building your own?    What thoughts do you have (pros / cons)?