You're putting every other unit in the building at risk by using any unlicensed/uninsured workers. 

We took a huge risk.

Entitling land is capital intensive and presents a number of risks. 

Most would think it insanely astronomical returns, and it is, but it's also exceptionally high risk.

He made a great point: immigration will offset that decline.Fewer people being born, but potentially more people moving in.

Since you’re focused on buy & hold multiplexes, consider networking with local investors, refining your underwriting skills, and researching markets with strong cash flow and appreciation potential.

However, you run the risk of the same thing happening again. 

I do not have the ability to make the cold calls or marketing materials needed to source those kinds of leads so I rely on my agents, zillow, redfin, and MLS to find potential properties but of course it always comes down to the numbers.

I'm always open to discussing potential deals, mentorships, and networking opportunities.

Some great markets are in your backyard, Tuscon and Phoenix are 2 good markets with Tuscon being a little cheaper and Phoenix being a little higher but with the potential for higher/quicker growth.