Quote from @Matt McNabb: I'm a solid $400k/yr job in NYC and have $250k to begin investing as my first step into building a portfolio, although I don't have time to be a landlord so I have to account for management fees.  

I believe I've heard about $120/sf for the cost of building.

Do you own the entire building and have other occupants complained of a problem? 

Since you said you are selling your building I’d argue you already have been a real estate investor.

You have to find a zip code that has a prevalence of multifamily and a pathway to build multifamily.

So we reached out to 80 builders who build at least 1 single family home.

I am thinking a 10-15 unit building.

we have investors who are trying to decide between long term rentals on new builds and short term rentals on new builds in midwest markets in urban adjacent core neighborhoods. how are yours performing?

He's in Austin so a little ways away from you, but he probably has a good referral for a builder in Dallas who could take on a multi-family build.

I have often seen many people love the idea of building, but once they figure out the cost, those ideas change.For reference, here in Chicago, you can expect new builds to be between $200-$275/SF depending on MANY factors...that's just a very rough ballpark!