While I’ve never done a project like this before, it’s something I’d love to take on—or at least organize and bring in the right experts to see it through.I estimate it would require around a $2M investment to build 5 houses on the lot, with each home valued roughly at $600K.

All basically rent by the room options and many of them offered in partnership with non profits with grants (homeless services etc).

I do look at the population, rental laws, rental laws, and major businesses/organizations (hospitals, universities, big business, etc.)

@Shrikant Kakani- thanks ...if you  dont need to use financing - disreagrd the following tip ..if you will need to use a loan to acquire your 1st investment property - I would recommend getting the formal loan pre approval step completed ..this is free  and it will help answer many questions you have  and  help get you organized and  prepared .

I have been through the worst experience with this drywaller.I am not using a general contractor, I have been organizing the labor myself.

149 repaid loans - 81 active loans...well run organization that understands bridge notes 

As long as you are very organized and everything is good then I would say you're fine

Feel free to inquire about their staff qualifications if it's a larger organization.2.

BP, I’m looking at an 8-unit deal in the Northeast that was historically a non-profit co-op with tenants already in place at substantially below market rents.

Getting Organized: Finding Functional Patterns and Flow