The general idea is that you must acquire an interest in real property you do not already own, and since you already own the subject real property you want to build on, the transaction must be structured so that you are creating an interest in real property you do not already own (in fact, it does not yet exist).

Maybe being a limited partner with some of the really good syndicators out there is an option to this route. 

I am looking for any recommendations on how to properly scale this idea over the first few years conservatively and not wanting to over use leverage and debt by starting small in duplex and being open to triple/quadplex in the future if the right opportunity presents itself.

You CAN limit that agreement to a specific property; but, as others have stated, agents are looking for a certain amount of loyalty from their clients.If an agent gets vibes from a prospective client that indicates that they want to cheapskate and not pay a professional for their service, they are not likely to waste their time with them.

We sent messages to all residents and 3 didn't answer, so it seems like that is the place to start, but does anyone have any ideas on how to figure this out given the limitations?

Limited Housing InventoryThe number of homes for sale in Buffalo is significantly below pre-pandemic levels, with a reported 46.1% decrease compared to 2018–2019 averages.

High earners should also consider estate planning tools like trusts or Family Limited Partnerships (FLPs) to minimize future tax burdens.Given his income level and tax complexity, consulting a real estate-focused CPA is essential to maximizing deductions and optimizing tax efficiency.This post does not create a CPA-Client relationship.

Do you think that’s a good idea?

From my understanding (not a lawyer), that ordinance has been lifted and there is not limit anymore.

You are limited in your options if something worse should come along later, such as a large investment going bad.If $10,000 CDN is a show stopper for you, how do you expect to manage a $600,000 CDN property?