I think it's very dependent on the property and market. 

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)?

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

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.

No residual marketing and no marketing for each properties uniqueness.

Although I did buy 37 doors in two props this fall  but its the first time i tried MF  and it was unique circumstances.   27 unit we bought for at least a million under market so turn around refi pull cash out and let me partner run it.. 

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

You can also do value add STR & Multi-Family Rentals by starting with distressed properties and using a bridge loan to acquire them with a lower down payment compared to a DSCR loan.Networking – Connect with local investors, wholesalers, and realtors in your target markets.

You can also start by being a "bird dog" and finding off market deals.

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?