Quote from @Account Closed: Hey guys,I have no experience but after looking at all my options I have come to a conclusion that my best move is to buy land and develop multi-family apartment building (15-20 unit) 2 story somewhere between Miami Jupiter.Budget for everything 3MDone with cash + 6% line of creditLooking for long term holdI would love to hear any insight on what areas I should look at, ballpark of build price (hard costs and soft costs) and would love to network with anyone in the area on this.ThanksIf you're looking to develop a 15-20 unit multifamily building with a $3M budget between Miami and Jupiter, there are a few key things to consider:Land Budget: Aim to keep land costs around 10% of your total budget.

If your lease does not address this, then I recommend you have the conversation quickly.I give tenants two options: 1.

Got lowball offers or ones that did not pan out so i went with the long-term rental option which is working great.

Or any other options you prefer such as a 1031 exchange?

There is no “hard money” purchase option in the realtor offer forms, so cash kinda makes sense, but there is a spot for “other,” which maybe is a better spot?

A difficult, but safe approach is to pay for a 6 or 12 month option to purchase the office building.  

Leather is a good option and it does get a lived in look after a while which can be either a plus or minus.

That's exactly what I'm saying, pay off your entire balance before the statement closes (option 1), not on the actual payment due date (option 2)                                                              Option 1               Option 2Prior statement balance on Nov 1             $0               $5,000New charge on Nov 5                         $10,000             $10,000Paid on due date Nov 10                             $0              -$5,000Paid on closing date Nov 30             -$10,000                      $0Statement Balance on Nov 30                    $0              $10,000The ultimate goal is not to pay off your statement balance in full each month. 

@DeBret McGee IIYour best bet is to secure a deal with creative financing, seller financing or meter lease options.

Here’s a quick guide to help you choose between Basic and Comprehensive Coverage and understand your options for Cash Value vs.