The builder's risk and vacant dwelling policies are expensive and cumbersome to get for each property individually.

All finishes are going to be mid grade stuff, fairly durable but not too expensive.

That gets expensive quick .   

I don't know your market at all, but right now for the most part, building is way too expensive for investments sadly. 

Counterproductive to your end game.Roll the IRA into a self directed version and buy the property with IRA funds (you can get a non recourse loan too).As @Christopher Phillips mentioned, every property needs to cash flow with at least 70% financing or it is not a good deal from a cash flow perspective.Also, this $700 or so cash flow you are quoting, does that take into account all the expenses?

Not because I am one, but because I want to be one.Anyway, about me: I live in San Diego, where every type of real estate is expensive.

I suppose if the #'s worked with all expenses included it wouldn't matter much,and I'm pretty sure loan insurance drops after 5 years as well. thanks again think i will look into them some more.

I think If you find a way to lower your expenses you will essentially have more money to do flips.

I live in the Coral Springs area and I've seen a lot of multi family for sale from investors but the properties are over priced and after all expenses I'll have negative cash flow.

Working 2 jobs, I recently got engaged so were saving to buy our own house (duplex) on tops of wedding expenses.