Building duplex in this economy?

[Eric Blair]

So with how expensive real estate is and how high the rates are and also extreme compition with investors with much deeper pockets than mine, I was thinking of maybe getting a duplex built. 

There aren't really any multi family homes in my area except for the bad parts. In order to have anything built I would have to hire out 100% of the work due to already being full time W2 and family with young kids. So basically just finding a contractor for a custom duplex. Maybe something bigger. Would the cost of the build, land and rates even be worth it? Renting wouldn't be an issue. The issue would be whether or not I cash flow, break even or end up cash flow negative. 

I am just trying to come up with some strategies since it's been years since my last deal. Thanks all!