It's probably unlikely anything too bad would happen excluding natural catastrophes but why take the risk if the profit potential isn't there?

Once could purchase the land (and potentially other land/real estate in the future).

The single biggest issue in my way currently is obtaining enough cash, whether it be my own, or through partnerships or family/friend-based lending (which I am very hesitant about to begin with as this could potentially strain relationships unnecessarily when money is involved).

Vet potential partners carefully and aim for relationships that can grow with your portfolio.In this higher interest rate environment, focus on cash flow and creative financing options like the HomeStyle rehab loan or seller financing.

I typically host single family homes, but have been asked to potentially host an apartment complex of 22 units.

Obviously some potential issues with the lender, but how often do these deals really happen?  

They are far more common now and harder to find models without but:1) these add cost to the purchase price2) they don't bring a lot of value3) they can leak or detach and damage the propertyI own around 50 doors and I cap off the line at the wall or in the basement with a valve and a cap so the potential for leaks is 0.00001% :-) 

Combine those factors and start thinking of nightmare scenarios, because they are very real and you must be proactive in policing against there potential to occur. 

We have our starter home currently rented out and can potentially move back. 

I'm looking to potentially do the same thing in Queens now where there are some more affordable mutlifamilies.