They live on the first floor of a small ten-unit building. 

Therefore trying to get a bit creative with the financing.Positive cash flow will almost be impossible (as I'll have to probably take one bed away, and then build a bath and a kitchen) in what I've been finding, so Im trying to offset the mortgage as much as possible.Long term, ideally I get to keep it and the 2nd unit adds to the cash flow if I ever dont need it anymore. 

When speaking to the owner (building rapport), your main goal is to figure out which of these main 3 is most important to them.

Depending on your income You get to take depreciation off your regular income (usually up to $25k) of 3.6% per year of the building’s value.Many of your everyday expense can be deducted from your income as business expenses. 

We have a pretty significant portfolio and are building more this year. 

My question is, can I use one of the separate parcels as collateral for a construction loan to build a multifamily on it (of course adhering to zoning regulations)?

Smaller office or shop buildings might bring in more money but need you to know more about running them.

Get rid of debt, build a budget, and save.

Definitely a smart idea to do a few fix and flips to build your cash up first!

Get rid of debt, build a budget, and save.