I want to speak with a lender to see if we could borrow against our existing properties to put less money down, but I have no idea what the cost would be of 1) the land, 2) improvements on the land, and 3) construction of the home.

I understand there are other reasons to consider that are not in the equation, i.e. tax planning and long-term benefit, improving cash flow over time, and equity gain.

Cheap curtains hung up on the first floor, a welcome mat, lights on a timer, battery operated fake candles on a timer, big size 11 men's shoes and big men's jacket hung by the front door, two empty dog bowls, a tie out in the back yard (for a dog), fan on a timer, foldable table and chairs with a tablecloth and centerpiece, and radio playing on a timer.  

I’d love to hear more about what kind of improvements were made to the property and how long the project took from purchase to sale.

Save religiously, improve your credit, and pay off any outstanding debts you may owe. 

Also, how're you improving the property while you're there to help cash flow when you move out? 

You need to find short-term purchase and rehab financing (i.e. hard money or private lender) to acquire and improve the property.

Between forced appreciation on general improvements on the property and the capacity to add an additional residential structure, the sky was the limit on value growth.

If I was going to improve on one thing, I could certainly tighten up my turnover process and make units ready to rent again a little faster or even advertise a little ahead of when they are ready.

Based on my income, I’m unable to afford a multifamily property, and the deals I’ve come across haven’t been particularly attractive.My brother, who earns $90K a year, is willing to co-sign with me, but his $100K in student loans doesn’t really improve our pre-approval prospects.