My estimate is you could get a total of 250 units on the same land with modern designing.

You mention the acquisition costs are $1M and the construction costs are $1M and total costs are $2M.

What I've found so far is the property has to be self-managed for the first year and you either need to live in it 14 days or 10% of total days it was available to rent, whichever is greater. 

He doesn't have any signifcant savings (~10k), and his only income is social security and a small pension which comes out to a total of ~3k a month.  

Hi Aaron, try to attend real estate networking events, join online forums, and connect with other investors through social media platforms like LinkedIn.

@Cameron WoodwardLooking for tenants for your first property, Check out online rental sites such as Zillow, Trulia, Apartments.com, and Craigslist.

However, these are roughly the same odds of having a terrible tenant totally trash the property inside of a rental.

Are you suggesting getting a "fake" POF letter online?

I am totally fine with decreasing my lifestyle and being heavy liquid.

I am starting to build out a site to help with an agent's lead collection and online brand.