I have 8 properties and 31 doors a W-2 and several other investments and my long term accountant charged me $1600 this past year.

We're buying a $93k printer to get more mail out the door, and this is nothing compared to the printers the big mail houses use. 

You might have a home that literally takes one dividing wall of 2x4s and a kitchenette, or you might have a home that you need to add exterior doors, breaker panels, relocating utilities, etc.

Went with 2 200 amp services so we could open the doors on time. 

How many bathrooms, bedrooms, and garages are in demand?

Just drive and knock on doors with no money or experience and you will kill it.

The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

If you reimburse now, you may be opening the door for future reimbursement requests in the future.This doesn't meant to ignore reimbursement requests such as this, but it's something to consider.

This significantly lowers the cost per door and improves your return on investment.Scalability: A three-story walk-up design allows you to maximize your build cost and land use, just like most professional apartment developers do.Control with New Construction: Starting with a new build ensures fewer risks, as you’ll have control over the property’s condition and avoid surprises from existing structures.Pro Tip: If you do go with an existing property, make sure to thoroughly vet the deal to avoid hidden costs and issues.For first-time investors, multifamily new construction is often the best way to scale quickly, reduce costs per unit, and build a sustainable rental portfolio.

As you mentioned often they own the land/house next door.