Or a combination of other factors I'm not mentioning. 

It is the only property that I own, and my reason for buying it was because I wanted to have the freedom of renting combined with an ok investment--and that's what has happened. 

My interest in investing in the construction of a new single-family residence (SFR) on the West Coast of Florida was driven by a combination of factors.

Appreciation Value Buy - (instantly valued higher than my purchase price) - VERY RARE FOR HILTON HEAD!

A private lender would look to the equity in both properties combined, placing a 2nd mortgage on the existing property and a 1st mortgage on the new property. 

I very rarely buy from wholesalers.

Once rents are optimized, the combined monthly rent will be around $4,000.

The opportunities come from solving a problem or combination of problems that others cannot or are not willing to solve themselves.

Pretty rare from what I see that cities allow or want this....turns single family neighborhood into multi family and most of the zoning people don't like this.Plenty of issues from their point of few of why they don't like it.....parking is one...now no one parking in garage, and potential for more cars...so now 3-4-5 cars in the street.More taxing on the water/sewer/trash/police/fire/city services.I wish you the best of luck with this. 

Yes, those 7br homes look to be insane cash-cows, and they would be IF, if you can find an approved 7br voucher holder, which is very rare.