Sam you can do ground up and there's no competition. areas like florida city, homestead, Vero beach, depending on your comfort level.

Those are probably the biggest pieces, the rest is talking to other investors, surround yourself with these folks, build the relationships, run the numbers, get comfortable with the numbers, and start writing offers. 

Especially if there is no multi families in your zoning area. 

If you are comfortable with renting by the room, check the local municipality laws in the areas you are considering to make sure there are no restrictive laws about operating boarding houses.

This is the biggest house I’ve flipped so far.the other two were about 1800 ft.² single-story homes.As far as ADU goes, I have already passed framing, electrical, plumbing, insulation, sheer wall, and HVAC and installed all windows & door.

My current solution is no longer supported and can’t no longer be installed on a laptop.

No one here can tell you how they might decide.

I don’t know the rest of your financial picture but if you are a realtor and have $1 mil cash to put into real estate and no other assets I would diversify a bit into other investments.

Despite good valuations on the appraisal, traditional banks were only willing to lend construction debt 70% LTC because of the commercial exposure with a 4% year one pre-payment penalty and an interest rate of 9.5% as most bank construction debt is currently priced whereas I had an alt. lender willing to go to 82% LTC at 12.25% interest and no pre-payment penalty (the contract price was $1.73M and appraised for $2.1M which helped with the leverage). 

I have a good credit score 8000 about 40K saved no debt but prices in New York are way too high any advise or anyone in NYC that has invested here.