If you are trying to build your portfolio faster I'd probably go with the second scenario.

It looks like you are doing an affordable build based on the cost but hard to say since you didnt provide info on the build itself such as square footage and finishes.

Ultimately build equity by having tenants cover mortgage.

First build a team, then build a empire. 

Hoping for $325,000 for the build (budgeting for $400,000 with overages).

The building itself cannot be accelerated. 

Based on income alone, I could buy a 30k lot in sky harbor and build a 2 bedroom 1,400 sq ft cabin that generates 50k to 60k in rental income all day long (if not closer to 55k to 65k).   

I’m looking for small multi-family homes in the $150k-$250k range, focusing on property appreciation with minimal cash flow to build reserves.I’ve been considering areas like Fishtown, Somerton, Roxborough, Haverford, Conshohocken, West Norriton, Upper Darby, Lansdale, and Abington.

That’s the magic of real estate compounding over time, and it’s stories like yours that really highlight this.. from what i read in the street journal, that slow build often outperforms shorter-term stategies.From an investor-friendly agent’s perspective, being willing to dig into the neighborhoods (driving for dollars) and having a robust network.. from probate attorneys to local contractors.. can pay off big.

I left my job 2 years ago to help me and sister build a online business.