Going this route is more involved and that makes it more costly too.

For example, if a property rents for $2,000 and costs $200,000, that’s a 1% rent-to-price ratio ($2,000 ÷ $200,000).

The best projects I've seen from my desk are folks who are doing hyper-targeted, well-researched deals that are generally in higher cost of living (there are exceptions) areas. 

Seems like it's in a lower end area so if it is filled you will have tenant issues and turnover cost.

The cost to maintain them probably wouldn’t be exactly 8x as compared to the single 8-unit, but it sure as hell isn’t a 1-to-1 ratio either. 

So, it would then potentially cost you a penalty for early withdrawl and also income tax owed on it.

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

Unless you're in a Class A Neighborhood like Palmer Woods, Indian Village, Sherwood, etc,. the additional rent probably won't support the cost to build:(More profitable to take the build funds and buy another property.DM us if you'd like to discuss more...

After the meeting there was no action plan other than doing a cost segregation study on the properties we had.

But again, your profit after selling costs (and any capex improvements) would have to be in excess of $60ok to really make sense.