That's awesome- I'm glad successful REI's like you are keeping their minds fresh & strong and open for new ideas :) 

I started this a little over 3 years ago now.I think thorough research, and data will help make educated decisions, and the real winner in this market is finding a mix of at least 2 of the four:  Off market discount, fixer upper, lowball on market offer, or seller financed/subto.Also if you are planning to do it in a populated area I also think its good to take on the idea of not cash flowing for a few years, and also considering air bnb if you want to reduce costs even more.

While blanket loans often cap at 4 units, there are some lenders who may be willing to consider both properties together if they understand the full picture of your deal.Regarding your idea of separating the single-family sale from the multi-unit purchase, it’s not unreasonable to ask for the purchase price adjustment, especially since the single-family home is already discounted in the package.

I can think of probably another 100 questions, but you get the idea.  

Taking in the content sounds like a great starting point, and teaming up with someone experienced in these deals is a fantastic idea.

I can't help on the mastermind front, but I did grow up in Central IL and can relate to the "something goes wrong with a property, now I'm spiraling, and this was all a terrible idea" feeling.

Each grouping had a common room (perhaps it was shared by multiple groupings ... this was a detail I missed) with a nurses/aid workers office.Central to the two sides of the complex were common facilities such as a dining hall, gym {perhaps a pool ... another detail I missed}, theatre &  games room.With one of the fastest growing groups in our society being single people, we are examining a related idea of a  complex / building providing a modest-sized 1-bdroom "apartment" with more semi-private and common amenities.When I read the title to your thread, I thought it was a project proposing to mix students and seniors into a single complex ... and came in thinking, this ought to be interesting :-) 

It's a good idea to always line up and get started early so you have options!

At one point years ago, I toyed with the idea of owning giant apartment complexes in multiple cities.

Property taxes and insurance costs are best obtained through local county websites or reaching out to insurers directly for quotes specific to the area.Tools like BP Pro and Reventure can be helpful for an overview, but it’s a good idea to validate their data against primary sources to ensure accuracy.