The costs sound a little low to me if you are talking turn key including permits, site work, utilities, plans, surveys etc.

Many never bother to even get their licenses.A couple additional pros and cons:1.

If you are buying a 2 unit building, especially if you are planning to buy additional investment real estate your best bet is to work directly with the smaller banks/credit unions in your community if that's where you are purchasing or in the area where you plan to buy.

@Greg Hammond If you decide the property is no longer worth holding on to and you decide to sell, in addition to the capital gains you want to consider depreciation recapture as well as any closing costs and commissions.

You can check their insurance coverage, any active lawsuits they have, their workers comp rate (how safe they are on the job site), and other metrics.

Unexpected Costs: Real estate has a lot of additional costs that aren’t always obvious.

@Albert Bui @Carlos Valencia There is no offset when you live in the 2-4 unit remember its a full HIt to your monthly PITIA and yes you can use the rental income but only as an addition to your qualifying income, you're still taking a FULL hit on the PITIA.Its only offset when you vacate or move out or it has already been converted to a rental (pure investment/non owner property). 

If you will be purchasing materials those cards offer some discounts and in addition you can get pro discounted pricing on larger orders as well.

I've been working with job titles like construction project manager, who doesn't know a lot about construction but coordinates architects, engineers, GCs etc, the VP of RE management, who also does not know a lot about construction but oversees site selection, lease negotiations, property management, RE accounting who writes my checks and does annual CAM audits, and other jobs like that.

As a result, I’m uncertain if any of the properties have illegal additions or modifications.