This is a great case study on reasons to hire a property manager - it's the headache part...

You can mitigate almost all of the risk by just hiring an excellent property manager. 

@Nathan M kieferI recommend that you get professional financial/tax advice.

Readers should seek professional advice.

Additionally, the commercial financing is very different at the professional syndication level.

.)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.

This significantly lowers the cost per door and improves your return on investment.Scalability: A three-story walk-up design allows you to maximize your build cost and land use, just like most professional apartment developers do.Control with New Construction: Starting with a new build ensures fewer risks, as you’ll have control over the property’s condition and avoid surprises from existing structures.Pro Tip: If you do go with an existing property, make sure to thoroughly vet the deal to avoid hidden costs and issues.For first-time investors, multifamily new construction is often the best way to scale quickly, reduce costs per unit, and build a sustainable rental portfolio.

We are both highly dedicated and ambitious individuals with a strong desire for personal and professional growth.

Network with professionals, use tools like BiggerPockets Rental Property Calculator, and explore grants or incentives for affordable housing.Good luck!

Do you get an inspection and just let the potential seller say they need to wait for that to be done, or do you hire a GC to give you an estimate?