I am also open to considering opportunities in the Riverside / Five Points neighborhood, or San Marco, in Jax.Ideally, I would like to find a livable property with 3+ beds / 2.5+ baths, make use of FHA to purchase, and rent out 2+ rooms while renovating into separate, complete units.

The big unknown is how deep the electrical and plumbing work will go.Also, with the attached 1/1 unit, I’m debating whether this could work as a long-term hold instead of a straight flip.

Mobile closing anywhere?

They sell an older inventory unit, get all there appreciation and equity liquid, and use it to secure 2 new built units. 

We manage 300+ units, I've flipped over 75+ houses in the past 3 years, and I currently own 28 long term rentals.   

We have been able to save up some money for our first turnkey multiple unit building.

I currently own 30 units and we do about $15M a year.

I use white flat paint for all of my units. 

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

.: @Karen MargraveGood to see you back here.When I was a midshipman a thousand years ago, we had accommodations similar to this, though our "micro-units house 2 or 3 cadets.