It's a great property with tons of potential but it's missing the IT factor.

But if you're able to figure it out and get it built, you can rent out the units and essentially BRRRR it and pull some/all of your equity out to repay your debts, yourself, and potentially keep the investment cycle going. 

I don't want the opportunity to pass so I'm reaching out to family and friends who would potentially want to invest too.

Knowing that you're new in the forum and to avoid a potential reaction of the style "Who's this idiot who thinks he knows my country better than me?"

The Main St property in Grainfield, KS, offered a promising opportunity due to its low purchase price and strong potential for a high return after renovations.

@James Wise gonna have to disagree with the "lie cheat steal" concept regarding residents.Any resident has the potential to be less than desirable.

They now use "Dave" to handle customer inquiries efficiently and promptly. 

Duplexes or small multifamily properties, even with value-add strategies, rarely match the potential of single-family homes in the right neighborhoods.In summary:Don’t be discouraged by low cap rates—they reflect market expectations of future growth.Focus on single-family homes with high equity potential in desirable areas.Avoid chasing the "economy of scale" myth with small multifamily properties—they often come with higher turnover and lower buyer appeal.Think long-term: prioritize properties that grow in value, even if cash flow is tight at first.

I get it, but customers never seem to understand.   

A potential challenge with a HELOCs is they are based on the current appraised value of your home, not the improved value, so you would need to make sure you have enough accessible equity.