Yeah, that's the step I'm on–identifying potential team members.

@Chad McMahanI hear you, however buying from long distance is tough too.what best cities do you suggest to focus on, for cash flow and potentially appricition in long term too.sfr vs multiplex vs apt complex ?

Evaluate interest rates, loan terms, and any potential changes in the interest rate environment that could affect your financing costs. 

I started investing here for the long-term potential, seeing how much money is getting pumped into the market. 

Yes we could potentially do a HELOC, but as mentioned the rates/fees on a second home/investment HELOC will be higher just as a disclaimer. 

After some basic research, it seems to me that an FHA loan or, potentially some type of physicians loan may be the best option.

I would highly consider the price points and rent potential of both properties. 

Hello everyone,I'm exploring an opportunity to convert a duplex into a quadplex and would greatly appreciate your insights or experiences in similar ventures.Background:Purchased a duplex in Roosevelt, UT for $210k, invested $20k+ in renovations.Currently valued at ~$275k with a mortgage of $197k.Planning to leverage the equity for a new project in Bear Lake, facing a housing crunch.Proposed Project:Partnering with my grandparents, who have $300k cash and a half-acre lot.Aim to build a quadplex, estimated cost: $1,000,000; ARV: $1,200,000.My contribution: $50k cash, project management, and labor (potential savings of $150-200k).Financial Breakdown:Total initial investment: $450k ($300k from grandparents, $50k from me).Required loan: $450-500k for construction.Post-construction plan: Either buy out grandparents or rent units for 2-3 years, offering them 5-8% annual return.

Just as others have mentioned, a Debt-Service Coverage Ratio (DSCR) would allow you to potentially get an investment property without dealing with the income verification. 

Improved energy efficiency with new windows and mini split heat pump and took advantage of the tax credits for creating energy efficient rentals.