You can establish your unit count by using the units per acre permitted by the current zoning times the number of site acreage to determine the total units allowed by right.

@Peter Vazquez, a 1500 count mailer one time is a longshot to produce a deal. 

For USAR/National Guard members to be eligible, they must have: 1) Served at least 90 days on active (Title 10) status or, 2) discharged from active duty with a disability or, 3) Served 6 years in Reserve/Guard status and be discharged honorably/placed on a retirement list.I'm almost certain Basic Training & AIT will not count for the first criteria as you'll probably go under temporary duty orders from your state.HOWEVER, I do concur that the VA Home Loan is an awesome benefit if you one day become eligible for it.

Not all banks count rental income the same, or will allow you to take higher percentage of equity out for a refinance.

The banks also only could rental income as passive income, and only count a % of that.

If you talk to locals, they will tell you not to count on appreciation either. 

Currently up to 2,500 multifamily units and counting.

Take location of building, parcel size, parcel shape and access to it, sightlines, daily traffic counts, crime for area, population levels, median income levels, age of building, etc. into consideration.You really have to know how to repurpose the site and run your development numbers.

While appraisers are supposed to take income into consideration, with any property with less than 5 units they will stick mainly to the comparable approach meaning they go strictly off of what other places with similar unit counts have sold for in the area.

When he decides to rent the property out, he will be able to count the rental income to improve his DTI's as well.