Another option is to find a nice existing home and do a remodel to make it "yours". 

And make sure you’re following terms of existing lease.

It is still relevant but doesn't have some newer finance options like DSCR loans that largely did not exist outside of commercial banks until after the GR (Great Recession.)As pointed out, we in BP Nation don't know your financial means or your skills.

The best first step you can take is to connect to a great broker with market knowledge and existing deal flow.

If so, new service to the building would more than likely be required independent of the existing domestic water line.

In the process of growing, we've reached out to existing STRs and LTRs to see if anyone was willing to do another arbitrage deal as we save up for our next purchase. 

I purchased my first duplex and have a question regarding existing tenants. 

We obtained a price $150k greater than we could have in a cash sale, wrapped the existing 4% note into a 10% note bringing the $1,300,000 note we hold to a 16% yield. 

I have formed opinions on questions like:Do new construction homes or older/existing homes appreciate more?

Multifamily is still very rare, to the disappointment of my plex buyers, but value adds multifamily opportunities do exist for those who are diligent and patient.