But then again, I’m not experienced in it, so I do need expert advise on what garage size and door size with height to pick.  

It seems like that size purchase wouldn't make it worth so would love to hear more on that.I did a 1031 exchange here in Chicago, where we built a ground up single family, but then exchanged into a 19 unit building.

I own a similarly sized 4-plex on the same street two blocks away whose appraisal dropped from 1.674M to 1.434M (14.3%) for 2025. 

The once-iconic retailer Kmart is closing its final full-size mainland store in Bridgehampton, New York, on October 20th.

This mindset limits the size of investments I can pursue more than if I did not have this objective.   

Quote from @George Goldstein: Quote from @Theresa Harris: Even if you did buy a $1M house for $500K, your property taxes are based on assessed values and the city uses the size of the home and comparable homes in the area to determine that value and in turn your property taxes. 

@Benjamin Stacey you didn't mention your family size, but if just the two of you, what would happen with your numbers if you finished the basement and lived down there, while renting the upstairs?

There’s also future development potential given the size of the land and zoning (allows for medium density development up to 8 units per property).What would be the best way to structure financing for a deal like this?

[Source: National Association of Home Builders]Demand: The chart below illustrates the steady increase in household formation, a key driver of housing demand.

You can add to your Chart of Accounts to account for owner contributions and movement of money between LLCs to help with the funds that flow from one account to another and for funds that enter the business with personal funds.