I don't need to compete against other investors in my stomping grounds... lol we will be neighbors need month more than likely

@Martti Eckert in our opinion, you'll need to be really familiar with construction, including costs, or be able to find somoen on the ground you can REALLY trust (but still verify).

As you grow the real estate stuff, you can phase out/down the W2. 

It may be helpful:I can give you some general info on insuring the property:Here are some things to look for from an Insurance prospective:1.Any in-ground tanks (active or inactive)2.Any Knob & Tube or Aluminum Wiring3.If built before 1978, does the building have Lead Safe certifications4.Any wood stoves or secondary heating units.

They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.

But I’d say the key to success is building a reliable team on the ground.

We also see a lot of ground up projects in HCOL areas that do particularly well. 

So, I am just curious how other investors have managed to buy 2 rental properties in the same year in the building phase of their portfolio.Thanks!

He's also the developer and this is the first house in Phase II of this development.

If you have those, it doesn't really phase you.