I would like to purchase a 4 unit building in NKY in 2025.

Building Fire Stations? 

@Heather Bailey while I live in my duplex, I have a standard Hazard insurance policy and I also carry an additional 500k umbrella policy (optional); both policies cover the entire building, but there's no separating it. 

You are particularly interested in short-term and long-term rentals, promising ROI, and locations with a mix of affordability and growth opportunities.Being willing to move and live in a part of a 1-4 unit property will help you get better financing, for sure, and require less down.

I worked in property management in a apartment complex and our maintenance team switched out the locks every time a tenant moved out. 

It looks like you are doing an affordable build based on the cost but hard to say since you didnt provide info on the build itself such as square footage and finishes.

I work for a building materials company now and took their online game from Zero to very engaged in the past few years and it's been really fun.

However, if you're a W2 high income earner or business owner, I can't imagine it makes any sense to flip houses, mail mass post cards, wholesale, or build lead gen websites with the value of your time being better spent other places (such as learning about real estate and increasing your income through proven means), such as at your 9-5pm or growing your business, and your real estate is a long term process and you don't need "home run" deals to qualify or make it work.

If you are referring to Section 8 housing, that can be any apartment or house in the US.

Building on existing land helps eliminate the issue of land scarcity, which is a significant challenge due to California’s high real estate prices.