If you live in Texas this is a great resource to see how much MF inventory is growing in your market https://trerc.tamu.edu/data/building-permits/

I have a client that lives in Hawaii but owns a property in DC area.

I am gonna live in this multifamily, thus I think I am qualified as owner occupying.

I try sending a video or doing a live video walk-through with them so they can get a better idea of the layout, condition, neighborhood, etc.2.

Everyone has to live somewhere.

I tried to work with the tenant but they have stopped responding and refuse to pay rent anymore, I don't even know who lives in the unit anymore.

I haven't lived in it long enough to be exempt from capital gains, good point on that.

Please see the rough numbers below :Tear down house price 350k,Construction cost 165 sqft * 2 build=627k too much for the land unless your exit is 3 million. don't reinvent the wheel. no single family home builder is paying 300k for land. that's miami florida prices where I live. we buy land 50k and under in Columbus Ohio. keep land at less than 10% of after built value.

Let people live.

Usually, this is a sign of stability and a preview of the types of people who live in the area.