And does it apply only to New Construction condo/townhouses or also to existing 2/3/4 unit multi family homes to be converted?

To even consider before you start construction you would need an executed lease with a large non-refundable deposit upfront to show the tenant is serious and committed to the sight.If this tenant is not larger corporate but smaller individual or group there could be serious risk to building the project and then the tenant ends up falling out before taking occupancy.

Running up debt for every repair while shuffling cards to pay off existing debt is not sustainable.

Also, while your town might not be economical; there should be towns within 30-60 minutes that may be where the workers might come from so those might be towns worth looking into and these exist everywhere.

I'm looking to build business relationships with local and non-local professional to help me succeed in this field.

It’s a four plex and the garage is being rented out as storage to non-live-in tenants.

in some areas home prices peaked in the 80s and 90s  think Rochester NY for example or Buffalo.. in some areas real estate seems to make new highs then 10 years later it makes new highs again  think SF bay area , at the end of the day building materials are up land prices even being zero  it cost more to build a home than you can buy an existing one in a huge swath of America so until that changes.. who knows.then in the areas that are slowing but surely turning into rental dominated markets  ( we know which ones those are ) those values will really only move if rents move or investor accept a much smaller return that what they want today which is basically 6 to 10% COC with 20 to 30% down.. 

My guess is a 3/8" drywall was installed over existing plaster walls but no trim was removed, the drywall was just butted up against in. my brother-in-law is a contractor in central pa who does this, however to a much higher standard than what this was done in. 

Banks also tell me I'd be a bad investment if I were to get a non-legal job in Florida to supplement my income while growing my new firm, since I'd be working far beneath my education level. 

For the non-owner occupant places I've worked mostly with commercial lenders.