I was considering drawing the plans myself and submitting them to acquire a permit.

It's your first deal, you don't have a contracting network, you don't have an architect, you've likely never go through a permitting process, if 4-plexes are impossible to find it might have to do with restrictive zoning, etc.  

You don't need to be G.C to manage, most city's allow Owner/Builder to pull permits and hire subs.

All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when delivered in person or deposited in the United States mail, postage prepaid, addressed as follows:IF for The Seller and/or The Buyer:___________________________________________________________________________Address: ___________________________________________________________________Print: _______________________________________ Date: ___________________________IF for The Consultant:___________________________________________________________________________Address: ___________________________________________________________________Print: _______________________________________ Date:___________________________Such address may be changed from time to time by either party by providing written notice to the other in the manner set forth above. 11.

If I were starting out I'd just buy a residence I could afford and in two years (while the laws still permit) just fix it up slowily and sell for tax free gain.

The land has permits to build an additional 5 duplexes.

He will be all in (Land and permits, plans and construction ) for about $1 million dollars. 

Also, the trend for the aforementioned metrics is also very important.Other sources of data include: Census Permit SurveryFBI uniform crime reportBureau of Labor Statistics U.S.

We buy properties in high demand areas, Work in areas where there's a strong economy (more qualified buyers/investors) Buy land priced at or below market value, Design as cost effective of a project as possible,Shop everything for the best price and highest workmanshipList our own properties (and sometimes sell ourselves)Act as our own general and electrical contractors, Do all preliminary architectural and site design in houseStay involved with engineers, architect, planners, etc.Understand the entire permitting process, and build relationships. 

Then today, I just got a code violation for not having any permits.