Next is to start building a strong network of local contractors, property managers, agents, lenders, and attorneys—they’re key to keeping things moving smoothly.

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.

I think the key word is community, and I've tried my best to cultivate a great culture and group of people.

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

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! 

I am considering BRRR as well as just purchasing a turn key property that cash flows.  

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.

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

The key is balancing cost with the value of your time—both approaches can work, depending on your priorities.