From Single Family Investments > Commerical or Apartments / Multi

[James Park]

For a long time, I envisioned my end game to own 10 Single Family Homes in "A" neighborhoods and eventually own them free and clear and retire off of the passive income.

Lately, I have been thinking about what is next after Single Family rentals. I don't think I want own any commercial investments as the commercial sector is heavily influenced by the ups and down of the economy unless I can get a retail strip for a steal and use it for the purposes of housing my own business, leasing out the other units. I see a few commercial buildings (office / retail) sitting empty for 4 years now within 30 minutes radius from where I live. 

The viable option that seems more promising for my investment goals after single family is to either build an apartment complex or build a strip 4-6 townhomes for the purposes of renting. I am leaning towards this path, rather than the commercial when I am ready to graduate from single family homes. I am not really interested in multi-family (duplexes, triplexes, etc. ) as these properties tend to attract lower quality tenants and also located in less desirable neighborhoods in my neck of the woods.

Question.

Anybody here actually building apartment complexes and townhomes for the purposes of holding them as investments? What type of capital is needed to be developing at this scale for an individual investor?  

Thanks,

James