The quadplex seems like an ok deal, but is the apartment going to dictate my rents and what the tenants should expect to pay for utilities? 

I don't think age is ever a factor, but knowledge and self control will dictate everything.

As we begin to put together build costs, I will let the numbers dictate the end goal, but I'm curious which option you would lean towards...It is in a good area of town that has a nice mix of rentals to owner occupied SFR.

But with no one dictating your schedule, it can be difficult to stay focused and get the job done.

What gives you the right to dictate the definition of success story?

this will keep you out of the hood this will give you a nice shot at safe secure investment.. and maybe god forbid some gambling appreciation.also will tend to have better schools and because your buying right at or close to the median you actually have people buying homes to live in as owner occ which stabilizes the area and keeps the thefts down. when you buy at the bottom of the median or 50% of it or less.. what does logic dictate.. same with rent.and if your sitting on the west coast not really knowing or in Sydney or Hong Kong.... quality of tenants does not move DOWN exponentially with values and rent rates.. it does the exact opposite it get riskier and riskier.

That contract will largely dictate what you are and are not allowed to do as a buyer.

The feeling you get when you are financially free is amazing because YOU get to decide the life you want and it is no longer dictated by debt and bills.So get back out there as tomorrow is a brand new day and there are more new properties hitting markets across the country to review and look at. 

Lastly finishes will dictate to a large extent how expensive your project will be.

While these numbers seem higher than what the market dictates in some areas, I can assure you, once you get to closing as a new investor, these are typical terms in many markets.