. - if you need two stairwells and an elevator, that will of course drive costs way up and it also eats into your floor plate area and can crush layouts on a smaller building, possibly turning your small CMX2.5 lot you'd planned to build 5 stories on into what may as well be a CMX2 lot and allow only 3 stories, since you can't actually fit 2 stairwells, an elevator, a hallway all the way through from front to rear, a small lobby, a mail room, etc.

This goes without saying, but I'd triple check local comps in the last 90 days, and leave plenty of room for a hefty rehab in your offer.

Additionally, a larger property like this is valued based on the actual cash flow, not sales comps, so you have the ability to force appreciation faster with efficient management.Adding the a 5-10 unit may also increase the amount of time you spend getting you closer to the 'Real Estate Professional' status for tax purposes opening up room for offsetting some W-2 income on taxes.  

As an individual or first-time investor- House Hack, lower interest rate/downpayment programs, local market knowledge, Rent a room, STR your house, Military BAH payments, etc.B. 

There are not a lot of groups, in the grand scheme, that can do this.  

While it has it's rough parts, I've been following the market there the past (2) years and if you're a contrarian, like myself, I believe there's room for upside.

Or rent by room? 

HI Vincent,Correct DSCR is only applicable towards investment properties and you need to own at least one property in order to look into DSCR.You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

If your numbers are correct, you may have a BIG $ winner here; there’s enough room to spend extra to ensure a problem free transaction, imo.  

Whether you’re buying or selling, Palm Beach remains a dynamic market with plenty of room for success.