I know of some folks in KC and Memphis doing new builds like this, but they are doing it within a much larger and long-term project that includes upwards of 300-500 units built over the course of 5-10 years.Assuming you're looking in Columbia, do you have a "B+/C" neighborhood in mind?

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

Prices seem very high and build times very long.  

I wouldnt, so long as you have your requirements laid out - they should be able to know if it is even worth applying.

Are you looking for a long term rental? 

It often takes new organizations similarly long times to get that sort of information.

This is a significant down side to me as a long term investor as it basically wipes out your cash flow. 

We have long terms holds in Shasta and Tehama county.

I do think brand can play a very important role in the long term of something like this.

I know it's not as flexible as a HELOC but as long as your deal flow is good and the tenants are paying the mortgage you won't come out of pocket for it.