Or just wait until a year passes and he can rent it out  Following - I'm based in California in The Bay. 

I am an aspiring serial house hacker based in southern New Hampshire actively searching for my second small multifamily deal in the Nashua area, but I've hit a wall with inventory being so tight in my local market.

Notices, eviction laws, tenant rights and landlord rights vary by state, with some county or city overlays. 

The cost of a cost segregation study varies but typically ranges between $1,000-$15,000.

Platforms like BiggerPockets, local REI meetups, and Facebook groups can connect you with investors seeking opportunities.Joint Venture Partnerships: Consider partnering with a seasoned developer or investor who can provide the capital while you contribute your vision and operational effort.Hard Money Loans: If you’ve identified a property, some hard money lenders may fund the purchase and development based on the future value (ARV) of the project.Crowdfunding Platforms: Sites like Fundrise, Groundfloor, and RealtyMogul cater to real estate developments and could be a great way to gather capital.Seller Financing: If the land seller is open to it, negotiate terms to finance the purchase directly with them.2.

The quality of available tenant varies drastically depending on the neighborhood.

We're National - I'm based in California.   

@Mordechai ChaimovitzGreat points made above along with what @Daniel C. said referencing @Tom Shallcross's post on another thread.The context and variables for each individual investor will vary but many people are comfortable with getting a 2-4 unit that will reduce their out of pocket expense compared to their previous rent with the intent to do rehab and raise rents over time.

Following - I'm based in California 

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.