Don't grill me too hard.I own three rental properties, one is my primary residence with an apartment (5 units total between 3 properties: 1 airbnb, 2 medium term healthcare leases, and 2 long-term rentals).

Investment Info:Large multi-family (5+ units) fix & flip investment.

This seems unrealistically low for a 40 unit property.

Build a solid foundation before taking a step up - each and every step of the way.There’s a way to scale recklessly and there is a way to scale safely.When OPM is involved safe is way better than reckless.Despite a life long career in RE, I scaled as followsBought a few duplexes for my own accountBought a fourplex for my own accountBought 12 units as a JV with some friendsSyndicated 43 unitsSyndicated 30 unitsBought another 12 units as a JVSyndicated 281 unitsThis was over a 3 or 4 year period.and so forth - now I am GP in close to 1000 units with $125M AUM.Even with all that, my sweet spot is 30 to 50 unit properties - they work best for my partners and I and more importantly our investors. 

I lived in the downstairs unit and rented the upstairs apartment.

Also, important to confirm they will be warrantable condos for end buyers otherwise it will be very difficult for end buyers to secure financing and thus purchase the units. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Lastly, ADUs are allowed for NON owner occupied properties, opening this strategy up for investors who could convert a SF into two units. 

The primary issue is that building small unit in a single count is some of the most expensive development.In addition, in most jurisdictions the primary unit will become rent controlled (assuming more than 15 years old).  

Investment Info:Large multi-family (5+ units) buy & hold investment.