Another option may be to form multiple series or "cells" if permitted under applicable laws.

Stay in towns only where permits flow at least somewhat on time. 

I am looking at a house close to my primary residence for around 1.8M; I plan to rent it out for the first year while I obtain permits and plans to build a larger house.

Permitting will be 3mo.

@Julia HagenIf they are all permitted, then I would safely say 10 doors.

A permit had to be pulled for electrical, plumbing, and an egress window has to be installed in a bedroom.Honestly, I would just keep renting it out as is and not waste the money or resources on trying to convert it

Paid $235k Budget is $510k for the build (high end build) ABV(after build value) $1.1milSo permits took about 1.5 months.

If rehabbed did you check to see if they pulled required building permits ? 

Looking forward to connecting with you. best strategy I've come up with after 10 years of experience in columbus is to build new construction multifamily with equity. 50k land purchase, 10k soft cost / rezoning / permitting, 300k hard cost, refinance and is worth 500k. build - Rent - refinance - repeat. if you want to buy old properties I would but no agent is going to stay on with you and you only get some diluted version of what they call a contractor who probably isn't licensed.

Is the house un permitted?