Here are a few tips to help you get started:Financing: Since you’ll be starting your internship soon, lenders may look at your projected income or require a co-signer until you have a longer work history.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

But a wide ballpark would be around $800-1200/mo long term or $1500-2000/mo as a short term rental.Understanding Zoning Requirements for ADUs in Raleigh. 1.

High credit scores and low DTI are often required…and these take much longer than I first thought…Navy might take 45 days to get through the gauntlet.  

Multi-family properties many times provide a better return per square foot than single family, which would be to your advantage as well.As long as you're mindful of the reinvestment requirements and purchase at least as much as you sold and use all of the proceeds, you shouldn't have any issues with this strategy.

I think it would require a major asset heavy backer to provide the confidence the investing public needs to scale to profitability.  

You should require the tenant to carry $100,000 liability.

@Mindy Jensen I’m a GC and if you’re buying materials we don’t require payment up front.

It does take 1-2 weeks to accomplish, so does require some effort and monitoring on your part, but sounds like you are a diligent self-money manager, so should be easy for you to accomplish. 

Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.