Within a year my wife and I acquired four multi-families properties with a total of 20 units, and eventually another building to rent out (currently a bait and tackle shop) as well as an Ice House.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

My reasoning is because I simply do not qualify for a loan for any properties out here and units that are being sold off in smaller multi-family properties have ridiculous HOA rules that make it quite difficult to cash flow or just pencil out in general.

I’d like to start buying multi family so your reply caught my eye.

That would seem like a better option, assuming you have the cash for the down payment.

For most lenders it typically requires having at least 1-2 builds previously completed, but I'm sure there are other options if it happens to be your first.

If you can get your loan amount up to $75k and value $100k+ you should have additional options.

Also find out what rights you have to terminate the lease as that may be the best option. 

Most multi family is on one furnace/boiler and the landlord pays the heat.

Wanting to explore other options or find out other financial strategies for trying to build a detached home on our lot without having to refinance out of our 2.75 interest rate with a cash out or doing a HELOC.