I'm building some currently (so obviously I think that works). 

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

But make sure to build a strong core 4 if you invest out of state (deal finder, your property manager, your lender, and your contractor).5.

The drawback is you need to build trust and relationships upfront.Both have their place, but private money tends to offer more flexibility, while hard money is more structured and accessible if you lack personal connections.

We rent apartments, so we only have one door/unit with a doorknob and dead bolt.   

This is the reason homes are so much cheaper than cost to build.

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

But if you/your team like to spend some time building your own flow, feel like it's better to build it on go high level directly. 

@Heather Bailey while I live in my duplex, I have a standard Hazard insurance policy and I also carry an additional 500k umbrella policy (optional); both policies cover the entire building, but there's no separating it. 

Is this a new build?