For instance I’ve got a building that still has 3 unrenovated units.

He had a client who was debating between buying a small apartment building in L.A. or spreading out capital on multiple units in Phoenix.. after running the numbers with a dedicated local realtro who actually drove around neighborhoods, he opted for Phoenix because he could get more doors for the same cost.

Hello @Anthony DiSanzo,I’ve lived in Memphis my whole life and have been helping investors like you build solid rental portfolios here for over 20 years.

Starting with land can help build funds for bigger opportunities, but multifamily is a solid path if your goal is long-term cash flow and financial independence.Good luck!

I've already renovated one of the bathrooms, and I’m planning to paint the interior, update the kitchen cabinets, possibly sand the wood floors, build a fence is a corner lot and increase the rent for the room since my tenant is currently renting the entire 3-bedroom, 2-bathroom house for $800 a month.

I can send you a list of contractors to help build your team.

nice cute building.. 

I'd also recommend diving into books, podcasts, and even attending real estate events to start learning more.Here:Learn the Basics: Study property types, financing, and market trends.Network: Attend events, connect with pros, and build relationships.Find a Mentor: Seek guidance from someone experienced in commercial real estate.Start Small: Look at smaller deals or partnerships to get your feet wet.Take Action: Once ready, start evaluating deals and making offers.

Whenever you plan on buying a property in the future, do not take the seller agent word for it always do your due diligence and make sure you get a certificate from the township that clearly states how many units are legally allowed in that building. 

Even if the property owner LLC is named as a co-defendant for construction related liability if you implement the steps I mentioned in my earlier post,  in most instances construction related liability can be deflected to Builder or responsible sub contractors.