Quote from @Pranav Patel: Hello,I'm 22 years old with roughly $50k saved up through part time jobs and internships.

Costs and Timeline: The process of splitting and developing lots can take time (1.5 years) and may involve significant costs for permits, construction, and other development fees.If you want to learn more about how SB-9 can work for situations like this, check out our website "CityStructure" for more info and helpful resources.

Other good strategies, are targeting tired landlords (absentee, owned 10+ years) or drive around and find distressed properties, and call the owner from the records you find on TruePeopleSearch.comAnother method if you want to stay on market would be to send offers that are well under asking price for properties listed 60 days or more.  

I have three single family rentals for three years and I now have my first horror story.

We love Duluth and the north shore and hope to "retire" there in the next handful of years.       

Using a smaller bank or credit union is the way to go.Being that you have been in business for 10 years I am VERY surprised your business banker can't help you!

Good potential for appreciation/rent growth upside as well in the next 5-10 years in my opinion with the market still being one of the most affordable in the country.

I manage around 400 rentals with 14 years of experience and have never been sued once.

Materials have increased more than 20% in the last 5-8 years.

Not sure how old you are, and $200K in a 401K may be a little or a lot based on age, there may be so many implications taking out money from your $401k, especially if you are still working for this company.feel free to reach out for tax advice