Hourly value of skilled labor would be in the area of $30-35 per hour x 50 hours= 1500-1600 per week.

The realtor said that the intention was be used as Medical.

I'm left scratching my head at the lack of basic arithmetic skills of the average posted who wants to retire by cash flowing the $100-150 from their 10-20 properties.

We'll cut to the chase, here's our dirt.The Facts: Ages 51/44, Married, w/10 yr. old childOne steady income 45KOne low income & fluctuating (self employed only 2 years but growing slowly)Living/ renting in NJ (Very expensive market, 2 family units sell over 500K)Fair amount of debt 37K (Car loan, 2 CC, Medical bills)Just getting by each monthCombined 401K's =  150KMy 401 (100K) can be transferred with no penalty to a self directed IRA (I had opened up last year in hopes of using some cash to invest in RE) We are determined to get into REI however we're probably going to need some creative ways to do it with our current situation.

I am thinking that it can be used by a small medical practice, veterinary, dental. etc. 

@Olusola AbitogunIt sounds like you don't yet have the skills or experience necessary to try creative financing.

I also have a few friends with building skills and unemployed and up to help. 

I’m closing on my ideal 4-plex near a major university and medical centers using an FHA loan.

Most students want to be close enough to walk/bike so the only way you'd be able to lure them away is to have really cheap rent, which wouldnt support the cost to build new.If you do build on the lot, then I think you'd have better luck marketing to the medical workforce. 

You also need skills in evaluating what repairs are needed, and what the costs of the repairs will be to create a realistic budget for the project. 3.