I have never built anything, only purchased already built properties and I need some advice.Thanks!

I've owned hundreds of lots and built on very few. 

The home was built in 2006, great neighborhood, close to the highways, close to everything new that is being built, close to a military base.

Think growing college towns with steady tenant pools or suburbs experiencing revitalization. 

I’ve been investing there since 2019 and built a 12-door portfolio using the BRRRR strategy.

Apply for a dimensional variance on the vacant lot to allow a smaller lot and/or setback so it can be built upon.Your best first steps are to sketch a plan, possibly with an engineer's help, then contact the zoning department to discuss your idea with them to get informal feedback on your liklihood of success before you spend a lot of money.

The current way the studs are built is not up to code, so they have to rebuild the entire structure of the kitchen wall This is not uncommon especially when renovating an older home and when budgeting you should also carry a very heavy contingency for unknowns. 

But consulting with the town would be good to try to understand what they're permitting process is like.

Quote from @Kelvin Lee: After American Family dropped my multi-family coverage, I’m still struggling to find a carrier for my 1969-built apartment, with only three weeks left before the current policies expires.

I live in a small rural town in MissouriIts an airbnb but I've had people from a solar plantation project in there for the last 5 months renting out at 2250.