You can then leverage the equity to buy more. 

I'm buying one on Friday.

Hello - I have few friends that are buying empty lots around us, playing a role of GC to build a house (have learned it over the years with education and experience) and sell it.

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

Investment Info:Large multi-family (5+ units) buy & hold investment.

Ideally, I'd like to buy a more practical car for managing my rental (something with more storag space) later this year. 

I'd love to hear any advice from the more experienced folks what I should be doing now to be ready to buy in the next 2 years. 

They are NOT going to make an owner whole unless you buy a replacement specific policy.So again, let's not jump to conclusions, just ask your PMC what legal reason compels them to depreciate tenant damage charges.

If you are buying land, watch the environmental.

With many homebuyers waiting, this could make now a good time to jump into the market to find deals. Check out this video