I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh 

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Don't wait for problems to happen before developing a solution.

@Steve EnglehartGet your retirement funds into a self directed IRA.

Are you self managing or do you have a PM running it?

Of course, this is all done before we spend money on inspections, etc.It's all about the relationship you develop with the team on the ground.

How many new developments can you execute in one year vs flips?

You would have to self-manage though, as paying a property manager will eat up most of your profits.

Then you can self-manage and learn all about tenants, contractors, etc. 

@Adam Poffenbarger are you self managing?