An easy flip at 7-10% return might be more lucrative than a larger project that takes longer and more chances for cost over runs. 

If you ever want to connect and go over your goals, I'd love to do so! 

Depends on what your goals are. 1-4 units are still residential, so it doesn't really matter how you start.

Cost segregation and advancing depreciation has its pros and cons depending on what the individual investor's goal is.

Starting with a smaller property or a few fix-and-flip projects can help you build equity, gain credibility with lenders, and better understand the process before scaling up.Securing funding for larger projects can be challenging without prior experience, but options like hard money loans might be worth exploring.

What are your current goals or challenges in real estate?

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

There are also other strategies that can work better currently, depending on what your goals are. 

Small demolition projects make massive impacts.

A few public projects have cleaned this up but the area has never prospered since.