Overall they WERE problem free tenants until yesterday when we received a letter from an attorney stating one of the three brothers has been arrested for possession of child pornography. 

So as long as you know you have 25 to 30% of the proposed deal in cash.. thats one.two do you have experience.. these are tough to get for first time borrower. ??

To me the quadplex would be dual purpose, while you are not living there it serves as a reliable stream of income, once you move there, you could live in 1 of the units while you build your permanent home, and you could also use it for when your family comes over for large gatherings.A 2nd option might be to build an RV park, Unless their are zoning restrictions, you should be able to build one fairly inexpensive, with a septic system and either public water or a well, you can keep your costs to a minimum by doing gravel roads, which are easier to remove later if you don't want them. 

I work with CSSI who are the nation's premier engineer-based cost segregation firm with over 45k is completed studies. 

If you or anyone you know might be interested in helping me gain experience/knowledge in property management in exchange free work, please reach out. 

I utilize these products but more for commercial multifamily where they build in an interest only period, 30 year amortization schedule, and the bank funds as much as 100% of the construction costs.

If you want to connect feel free to send me a message and I'll send you a detailed list of what info I would need to get some terms put together on this for you! 

One of the benefits of new builds is that they tend to attract tenants who are looking for a fresh start and a place to settle down, which can help reduce the kind of headaches you’re dealing with now.If you’re ever considering expanding your portfolio or want to explore other opportunities in Indy, feel free to reach out.

If you already have a preliminary site layout showing the size and quantity of buildings you can put on the lot, you should be able to take that work on some budget construction costs and from there work your possible rents into the equation to see if what you have drawn makes sense cost wise, or if there is a more efficient way to lay the site out and reduce costs. 

Feel free to reach out if you have any house hacking questions.