Duplexes: Buy or Build?

[Keegan Fraker]

Hello all,

Within the next year, I am looking to invest in a multi-family home (duplex) in Wilmington, NC. Ideally, I plan on living in one unit, and renting the other; after 1-2 years living in-unit I would move and rent out both units for a long-term hold. From my research, there are not many reasonable options in the area or close by. Is it feasible to buy raw land and build a duplex (thinking approximately 900-1000 square feet/unit, possibly less), or is it safer/wiser to wait and buy, with possible renovations? If there is any other information I can provide, please let me know - any input is GREATLY appreciated!

Cordially,

Keegan