In addition to this pressure to get it right at each step, you have pressure to do it quickly.

They are one of the best types of real estate investment because there are no toilets,water or pets.

Of course, it's harder to find good deals at the moment with the high interest rates.I also have partners investing in Tucson, which is another great market. 

I'd recommend pushing density to 3 or 4 they all finance the same. we picked 3 because of the 35' height allowance in our area. here is a rendering to help paint the picture. our target appraisal value is 550k on the first few and pushing them to more than 600k as we sell some or keep them but if you are the only one building multifamily it's important to highlight the importance of appraisal and selling or disposing of some assets to create comparable to be used. our market has very little 2-4 units built because of economies of scale we are the only builder doing this style and we control the full process and it is a high barrier to entry where we are at. we are able to build at a lower cost now than almost buying a duplex because they are so small. each one is 668 sq ft total of 2004 sq ft. 

Highly desirable as a rental with the potential to convert the vacant lot to additional STR units.

Buying units where I am is often owned by older landlords that have left the rent very low. To create cashflow after rehab the rent is increased to market price and that tenant is unable to afford new rent. 
I know i...

Some people like messing with all that, but to me the return is pretty low and the headaches high. 

You only talk to highly qualified and motivated sellers and you don't waste any time training the VAs.

I spent so much money trying to bring that place together that I am literally tens of thousands of dollars in high interest credit card debt.

The sales volume and quick turnover suggest that 28303 is highly attractive for investments in smaller homes catering to young professionals or small families.Zip Code 28304: Although there's significant appreciation in larger homes, 3-bedroom houses here saw a notable 30.1% price increase, and the average days on the market dropped from 50 to 17 days.