MF properties are viewed as businesses, thus often priced as a multiple of annual income potential (like any other business, whether you're selling a donut shop or a tech company).

i wouldn't tell you where you should move since i don't know you.also, a lender would be in the best position to advise whether you qualify for a specific loan. 

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

Do yourself a favor and find an expert on your particular system -- that might not necessarily mean one of the big name companies.

The process from start to finish would take four months and cost ~200k to build, with comps in the area around 355k-lender man said, refinancing would take six months as most lenders wont refinance a property unless its been built for six months, affecting the strategy to get paid out from refinancing quicker and closing out on construction loan-The property would not appraise at comps value, but at the cost it took to build, affecting getting paid out from the refinance.

@Jason Brown - I'm a CT based investor, flipper, and property management company owner.  

I own a mortgage company and know PennyMac. 

Many Gen Z buyers, however, are still in the process of securing their down payment funds or comparing loan options when they start making offers, putting them at a significant disadvantage.Looking AheadDespite these challenges, Gen Z homeownership demand remains strong.

This is really a lot of information packed into a densely worded post.Yes, you can use loan proceeds to buy out another member, but it doesn't seem like you'll have enough to buy out and develop.

Just hire a 3rd party company that takes care of this for you - worth every penny.