Quote from @Account Closed: Hey guys,I have no experience but after looking at all my options I have come to a conclusion that my best move is to buy land and develop multi-family apartment building (15-20 unit) 2 story somewhere between Miami Jupiter.Budget for everything 3MDone with cash + 6% line of creditLooking for long term holdI would love to hear any insight on what areas I should look at, ballpark of build price (hard costs and soft costs) and would love to network with anyone in the area on this.ThanksIf you're looking to develop a 15-20 unit multifamily building with a $3M budget between Miami and Jupiter, there are a few key things to consider:Land Budget: Aim to keep land costs around 10% of your total budget.

Don't return the deposit until you have the keys and have inspected the house.

Chasing keys is a pain and we're trying to find an all in one solution-if it exists. 

Should have done cash-for-keys with the occupant.

There are "turn key section 8" operators in Alabama that market to do all of the due diligence for you and you never even have to see the properties! 

A good team (agent, contractor, lender) is also going to be key.

Typically, crime is going to be present in a lot of the areas where #'s make sense, but the key is making sure the house you are buying does not have obvious crime ridden houses in the immediate area.

Networking is key in real estate, and there are plenty of investors here who can share local insights and opportunities.

(probably the biggest key).

The key is to accurately reflect the type of income/expenses and the timing of everything.