I have a contract on mixed zone property on 355 Fredrick road, Clarksburg. I am debating about the converting the existing old gutted building to either multifamily building (6 units each around 500 sqft small studio)...

We work with a lot of relocation clients and when I ask many of them say, they had no idea, but they visited a while ago and really liked it.. 450k is about the most you can spend on a duplex here.

I've watched some videos from BP but i'd like some recommended reading to educate myself in preparation and so i can start going to open houses and actually having an idea of what i'm looking at.3. i'm thinking about changing careers to either electrician or plumbing to get skills that may help me manage my properties or do house flips and value adds to my properties.

If you were able to pull out $500,000 in existing equity out of a paid off rental and disperse those funds to acquire 2, 4-unit MFR properties and had the income to support any future CapEx and the interest payments on your HELOC ( including the extra income to paydown the loan ) would there be any " gaps " or problems I'm missing in this situation where it would be a bad enough idea to not go through with acquiring more properties through a HELOC on 1 of 5 properties you own?

What other ideas/suggestions do you have as far as deriving income from real estate?

I just finished Brandon Turner’s Investing in Real Estate With No Money Down and learned a ton, so I’m open to creative financing ideas too!

Our Charity was  ( aheroshome.org)  BP members and BP staff giving back.Hope this gives you some Ideas..

You'll probably need to look at a few to get a general idea of what a room would rent for in your area.

Finding a place within 5-10 minutes of Barnes, STLCOP, Wash U, etc seems to be a great idea.   

It’s a good idea to review local real estate development compensation norms or even consult with a lawyer to ensure the deal is fair.In your uncle’s case, the terms seem fairly favorable to the engineer if he is only handling the development and not contributing any capital.