Can an amateur build new construction 4 unit?

[Leslie LaBranche]

Hello all,
I want to build a new construction 4 unit apartment building.
I have general contractor experience buying and rehabbing properties but I've never built new construction.  I want to be the general contractor on the project and pull all the permits myself and purchase all of the building materials myself but I want to hire subcontractors in each trade to work different aspects of the project.  

I've heard a lot of experienced people tell me this isn't a good idea but also I've talked to other experienced builders telling me yes it can be done.  The reason I want to take on this task is that here in my market in Illinois there is a need for this type of development.  

I also believe that by doing it this way I can significantly reduce the cost instead of hiring an experienced builder to GC the entire project.  I want to know the opinions of anyone with experience or knowledge about this.