.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

You may qualify based on Market Rents or Lease Agreement.

I don't know how much you have but a build to rent triplex all in our market is 150k liquid normally with full return of capital in 9 months.

This is one of the main inherent risks with pre-construction, and the pre-construction market has cooled, and with impeding tariffs, there is some uncertainty around where prices will be in the coming months.One thing to clarify, are you looking to buy an investment property or a primary residence (or perhaps abit of both where you live in one unit and rent out the other)?

No residual marketing and no marketing for each properties uniqueness.

In the 2024 insurance market, CA is hard to place, so even though you could force them onto a single policy, it may be more economical to keep them separate.I'll send you a note with the carriers who can do this for you.

Since it is a family member and I would potentially buy the property for under market value.

You’ll pick up so much just by listening to people who’ve been through the highs and lows of the market.

This year I may see if if I can get a construction loan to build 20-30 apartments, then refinance with an asset based lender. what markets?

Nashville is a ridiculously competitive market.