This is very useful.You could build a deck or gazebo to house a hot tub.

Are you set on starting with a larger property, or would you be open to beginning with something smaller to build experience?

The #1 determinant is the Tenant Pool.If you don't believe us, try putting several Class D tenants in Class A apartment buildings and watch what happens.

Quote from @Kolby Knickerbocker:  Have you considered building here in Central Oregon or an STR here? 

I'm just beginning but am considering a bigger commitment in the next five years or so by accessing some or even all retirement funds to buy a building (I'm sure people have thoughts on whether or not that is a good idea!).

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

Having a solid team around you like agent, lender, contractors etc.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

Hello Mike, It is nearly impossible to answer this question without taking a deep dive on the numbers of each but often times in expensive markets like Seattle the cost of construction is so high that it doesn't make sense to tear it down unless you can build something way bigger/nicer.

I was on island earlier in the month for an eviction trial and stayed at the Waikiki Banyan for a few nights - that seems to be a popular STR building.