Development potential to add more units.

Once you get past the zoning hurdle, its important to engage an architect who can lay out units.  

However, after meeting with a friend who has real estate experience he mentioned that he predicts in about 12-18 months there will be a downturn of the market and an influx of foreclosures due to the pandemic forebearance.I now feel like our momentum and excitement has come to a screeching halt and I am unsure of whether or not to invest in this market.I understand long term the market works itself out, however, if I bought this multifamily unit on my current income, I cannot afford for the rental market to depreciate as well which is my fear.The mortgage would be about 4K.

I specialize in small multifamily(2-4 units) deals both as an investor and agent. 

I would suggest first looking into buying a 5 unit multifamily building, and then another the year after.

Instead of buying 2-4 units buy 2 units in a BTR community. 

And building a 2-4 unit is possible in one of those scenarios as long as your lender can do it.

So, rent did not start until April; I lost 2 months’ rent but this went about as good as I expected.For all the properties, OCF does require a reserve of $1000 per unit.

There will have to be 750 between units and owners will need to register them and display their registration in a prominent place in the property.

I have our own home split into 2 and a 5-unit building.Cheers,Thomas