Legal Implications and RisksThere are a few legal and procedural risks to be aware of:Title and Zoning Issues: Confirm there are no restrictions tied to the property.

Margins seem low and the risk seems high.

You open yourself to much more risk in not being able to finance out of it and being stuck with hard money and those fees/penalties.

I enjoy tenants turnover ever few years for the reason fair market rents tend to increase significantly year over year. 

If we can complete projects faster, we increase IRR and build trust.3) Market Risk- The longer it takes to complete a project, the more exposed you are to market fluctuations.This goes for all things Real Estate - BRRRRs, Flips, New Builds, Rehabs, etc.Real Estate is a wild ride I feel your pain, I've had this happen many times where the project is twice as long.

You have no more at risk than you do in your own home (where you probably have more equity.) or your own car (where you probably have more risk.) and we won’t talk about if you have a pool or a dog. 

This approach would allow me to learn with each deal and minimize initial risks.2️⃣ Go Straight to Multifamily: Instead of starting with SFHs, I could spend time learning the multifamily business and go directly for a 20+ unit building, maximizing scalability from the start.I have no experience with either strategy.If you were in my position, which strategy would you choose and why?

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family. 

They should be able to teach you about asset risk, neighborhood risk, lay out A, B, C and D class areas, have stats on delinquency trends, vacancy trends, and other variable cost projections. 

There is no stock account that gives the leverage real estate does, at as low interest rate real estate does, at as low risk/ volatility real estate does.