All these PMCs are essentially bidding on a job, like a contractor would, and the ones that have responded have had no issues in asking us to set up a time to meet.

The hubs and I are in the permitting process for our 1st-ever build.

The unit, in North Miami, would be paid for all in cash since the building didn't pass the fire inspection (ie. proper exit signs, etc) and wont be approved for a mortgage (it has passed the structural inspection however).

Considered buying apartments or building storage facilities.

There are some good property managers over there and contractor rates are cheaper than the western part of the state. 

These expenditures are capitalized, meaning they are added to the property's basis and depreciated over time.Examples of Capital ExpendituresBuilding Additions: Adding a new room, deck, or other structural improvements.Major Renovations: Remodeling a kitchen or bathroom, replacing the roof, or significant electrical and plumbing upgrades.Appliance Replacement: Installing new HVAC systems, water heaters, or other major appliances.Structural Repairs: Replacing the foundation or significant repairs to the building’s structure.Labor CostsLabor Costs: The costs paid to contractors, electricians, plumbers, carpenters, and other professionals involved in the renovation are part of capital expenditures.Example of Capital Expenditures with LaborSuppose you renovate a rental property, including a new kitchen and bathroom.Materials: $15,000Labor Costs: $10,000Total Capital Expenditure: $25,000This $25,000 would be capitalized and added to the property's basis.

As far as renovating a basment to be a  separate unit i recommend working with a licensed general contractor.

One approach to building the capital needed for investment is to explore lending out of your IRA.

If you are a broker or contractor at some point you may want to be able to kick back and rentals can help.

Real estate consists of land or buildings.