I have a small commercial lot that i plan to use for multifamily development.This would be my first project as a developer so i would need some advice in estimating the cost and number of units that are feasible on that lot. 

Also, any rough estimates on cost?

Basics:-I currently live, and wish to continue living, in Boston/Cambridge/Somerville/Charlestown in a “nice” 1-2 bed (w/ significant other)-Assume I am fully extended with 20% down on a ~$900k property (or less on more, as I am willing to tolerate a negative cash flow of ~$2k/mo, inclusive of my personal rent)-I do not presently have a contractor/“team” and am not personally “handy” thus would need to factor in significant costs to any rehabOptions, as I see them:-Buy a 1-2 bed in an area I want to live, live there-Buy a multi family in an area I want to live and rent the other unit(s) - may overextend myself and I will not be able to carry the nut if significant vacancies-Buy a cash flowing rental property (single family, multi family, condo) in an area I don’t want to live (e.g., Everett, Revere, Chelsea, Dorchester, other B/C neighborhoods, out of state) and rent in my desired areaIf you were in my shoes, what might you do (aside from compromising on my desired location and house hacking a MF in a B/C neighborhood)?

Basics:-I currently live, and wish to continue living, in Boston/Cambridge/Somerville/Charlestown in a “nice” 1-2 bed (w/ significant other)-Assume I am fully extended with 20% down on a ~$900k property (or less on more, as I am willing to tolerate a negative cash flow of ~$2k/mo, inclusive of my personal rent)-I do not presently have a contractor/“team” and am not personally “handy” thus would need to factor in significant costs to any rehabOptions, as I see them:-Buy a 1-2 bed in an area I want to live, live there-Buy a multi family in an area I want to live and rent the other unit(s) - may overextend myself and I will not be able to carry the nut if significant vacancies-Buy a cash flowing rental property (single family, multi family, condo) in an area I don’t want to live (e.g., Everett, Revere, Chelsea, Dorchester, other B/C neighborhoods, out of state) and rent in my desired areaIf you were in my shoes, what might you do (aside from compromising on my desired location and house hacking a MF in a B/C neighborhood)?

Talk to a property manager, they are the most plugged into the local market and can give better estimates on average vacancy rates.

Do you have a good estimate of the projected ARV once you fix up the house you just got for 395k?

@Eileen L.You should have know about the origination fee/points upfront with their initial estimate. 

In theory, one could argue that the average historial capex (both maintenance and expansionary) per year for a time period of 5-20 years should give an estimate of the capex level going forward.

Hey @Soniel Estime, With respect to inheriting the tenants, I recently came out of a pretty ugly falling out with a tenant that I had inherited.

Estimated cost is ~$25/month for $500k coverage and covers THEIR personal belongings, plus my house in case of their negligence.Do you as an investor require this as well?