Similar to an STR but you can set up longer term leases with the tenants and they can come and go as they please, or as their schedule dictates. 

Most lenders want shopping center 50% pre-leased before the construction loan starts for non-experienced developers.The cost of construction per ft for a one off building is very high because the starting developer does not have the volume to save money ordering in bulk and have full time crews doing only their projects.Additionally you might want to use certain building materials but the county or city dictates higher end finishes to approve the site plan which add about 25 to 30 bucks a foot more to overall build costs.

Don't let the other buyers or sellers dictate what you're willing to pay for a property.

Your work will dictate your reputation.  

Short term: (1) determine investment goals (target ROI, markets, property size, capital stack); use this to dictate where and with whom we invest. (2) market research to evaluate where and what will meet investment goals (this is where my OP question about analyzing properties with rent control comes into play). (3) decide to sell or refi our 4-unit property in line with points (1) and (2). (4) analyze cost benefit of selling GP interest as capital source in line with points (1) and (2).

But don't let GREED dictate your decision.

And the homes if you choose like i do  Stucco  tile roof less than 20 years old A B class you can actually self manage those from San Jose.so thats another option to explore.. dont just let price dictate and for sure dont go chasing Bps  that will come back to bite you.PS Steve is one switch on smart landlord I would read as many of his posts as possible from the owner do it yourself angle..  

just an aside its going to be interesting here in CA OR WA were new state laws are being passed that dictates ANY SFR zone can now have a duplex.

There are couple issues with this strategy, first you are disqualified person and rules dictate that all transactions must be arms length.

The market dictates price as a function of desirability...and the verdict is out on this property that it is not worth what it's listed for...when the right price is set, it will sell...assuming it's worth more than listed currently is flawed thinking.Good hustle, though