The proposed plan which got approved is to expand it from 1800 sf to 4235 sf, and initially I speculated that this may cost $300-350k to do and budgeted it accordingly.

I’m planning on purchasing my first rental this year here around Richmond, VA.

We're looking to begin financing, etc for a multi family that we plan to house hack. 

I plan to invest here soon and wanted to share some information about the market, rental income, or even general talk of the area.

There is street access because it's a corner lot.This would be my first new contstruction....my plan is to sell my current home (family issues, forced to sell) and move into one of the units as a primary residence for a year or 2 before leasing it.Question is - What is the order of operation to start the project...   

@Tyler Case - You could offer someone a promissory note or a debt play, e.g. someone brings the downpayment and renovation costs and you pay them a flat 10-12% interest on their money with the plan to refinance their funds out down the road.

You maybe be able to live for free or pretty close to it, depending on how extreme you get with it...AND make some decent cash when you sell as well...especially on the 5 year plan vs 3.

Remember to always approach real estate investing with a focus on the long-term, careful planning, and a goal of building a sustainable and profitable portfolio over time.Good luck!

This company called Zoom Prospector / GIS Planning does great demographic stuff in the PNW and Midwest.You can also purchase data... costs a few hundred, but may be worth it for scoping out-of-state stuff.

I am planning on closing an investment property `all cash` under an LLC name.