I am planning either a 3-story 27 unit apartment building OR if I can purchase the combined 0.8ac parcels on each side of me, construct a gated condo community with end to end road access.

It seems like now the differentiator is offering a place larger, and nicer than a hotel - motel room.  

Here are a few strategies to consider moving forward:1.Consider Existing Properties:Since new construction timelines are extended, you might explore purchasing an existing property that you can renovate to include a Next Gen suite.

Why do you think purchase contracts are so long and have such small print?

Hi,
Im an agent in Virginia Beach and a Navy veteran. I have been curious about this method for a long time and have only seen it in theory and would love to hear from someone who has actually done it. 
The Theory i...

What price points are targeting for this purchase?

You will make them aware, and you should treat the transaction like any purchase involving an HOA. 

I currently have a primary residence, which I purchased almost a year ago before I knew about real estate investing.

Firstly, it has a relatively low cost of living and affordable real estate prices, allowing investors to purchase properties at a lower initial cost compared to many other cities.

It varies greatly on your purchasing abilities and overall goals.