Finally, you post that your market is super hot for buyers, but then you don't mention what market you are referring to. 

Quote from @Katie Accashian: I am located in Lakewood, CO and have my property listed at market value and haven't received a single message in 2 weeks.

Super helpful, Stuart.

RE's super power is equity over time.

With this timeline approaching pretty quick, do any of y'all suggest sticking it out until I find the right multi-family or would you jump on a good single family I can turn around and rent out down the road. 

Anything smaller may not attract larger investors or offer the economies of scale needed for profitability.Design Style: BTR developments often consist of attached townhomes, usually with features like garages and a more upscale design to appeal to renters looking for something between an apartment and a single-family home.Location Factors: The success of your development depends heavily on location.

@Tj Collins You can 1031 exchange in and out of any state, you can 1031 exchange in and out of any investment real estate - farm land, apartments, commercial, single family investments, new construction etc...The big things are timing on the 45 day window, 3 property rule and closing in a certain amount of time.

Given that your property has been subdivided into two rental units, it should indeed be compared to other multifamily properties in the area, not single-family homes.

We currently have 7 doors 5 properties with a mix of single family homes and duplexes.

Every single cabin I build is a deal I'm going to add 150k or more in equity (I've done a couple of larger ones that have 200k to 300k in equity) and anywhere from 5k to 10k a year in net profit by year 2.