The RGV has four counties Willacy, Hidalgo, Cameron and Starr County with a population of 2.4 million.

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

See the 2020 aerial view below.Very little undeveloped private land is left in the Las Vegas Valley, and desirable areas cost more than $1 million per acre.

Say you're doing this on a 4 unit that appraised for about a million.

His was for many millions of dollars.

Purchase price is 1 million.

Your investing plan sounds "boring" but in 15 years of this strategy you will have millions in assets that cash flow you to not need a job, and equity built up for continued growth or expansion. 

I owe MILLIONS of dollars to my friends and they never miss a payment, never mind receiving a payment even late, and they never don't get an immediate return text or phone call from me when they want to talk to me.

Renting short term or long term will have some bearing on it but this isn't too far fetched to find a lender for this sort of thing.A small, local lender will be your HIGHEST probability of success when trying to find investor friendly lenders on investment properties.

You could search Southern California, or any other  term you are interested in  and every post with that in them (out of over 3 million of them) will pop up for your reading pleasure.