Alright guys, I'm at a fairly exciting place in my investing career. I've been doing this almost 3 years now, have 7 deals under my belt, and my first subject-to will be done in December. I've just earned my agent's license and my wife approached me a few days ago about building a fourplex / quadplex/ quadruplex (whatever you want to call it!). I'm in a fast growing small town of approximately 12k people just outside of a city around 120k people. We own our own home, a 3/2, that we've had for a year next month, FHA loan. We have a couple of months to prepare before we can even move legally so I'm trying to gain as much knowledge as possible in order for this to be a success.
I have a family of 5, 2 girls, 1 boy, and we're planning to have one more child within the next 1-2 years. That being said, we'd like to design a quadplex with a single family home of either 3/2/2 or 4/2/2 on the end, and connected to 3x 2/2 townhomes that look exactly the same as one another. As much as I'd love to find a pre-built quadplex, there are none in my town. Multifamily is extremely uncommon here. So, have any of you actually constructed your own using an FHA loan? Were there any caveats to the loan/construction process? Is there anything I need to be aware of before starting? Who did you use to design your plans for the homes? I appreciate the assistance.
