It’s so much potential there and I know that will be a great placebo start at even if it takes me to relocate for a while.

Many times I have found that a reasonable attitude and calm conversation can work well in achieving your goals.I would discuss helping this tenant with the cost of relocating and see how they respond.  

I will be relocating to the Las Vegas Metropolitan Area within the next month or two and will be looking to purchase around January.

Are you relocating to this area?

There are owner occupied evictions at least in the bay area and recent city ordinances at least in the Bay Area require the owner to pay tenant relocation which is a sliding scale based on how many bedrooms the unit is a 2bd is 8700ish in 2019 in Oakland.I don't know the specifics of your situation as you didn't talk about financing that you were looking at.

You want at least a 30% margin above costs and the NOI needs to be enough to pay the debt service after stabilization and then some.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

We plan to relocate to Austin in July. 

Aloha BP community, I will be relocating from Hawaii to Sacramento early next year and will be looking to purchase a multi with my VA loan.

Fellow BPers,I am currently starting the process of relocating.

For example, up north people don’t want to relocate in winter, and not many good tenants are looking to relocate around the holidays in November and December.