I could also develop a partnership with a builder.

Similarly I see some CRE lenders throwing money around again topped by dried up inventory and too many new, overpriced A-class developments going up just to create the perfect storm all over again - this time in the CRE space.

I am still trying to Perfect the method.Since I have owned property, developed property, flipped and held property for long enough to tell a great story, I have friends who lend me money based on my experience.I say this more to contrast what I am doing with what your trying to do.For me, I borrow 100% of the purchase price from private money.

And you may want to consider in that event a lease/option for the eventual buyer. 

James, Thanks for the book suggestions, I will order them right away and develop a more thorough knowledge on this - very appreciated!

I found this one really good article on sub-dividing, and then using Oakland's mini-lot development guidelines as an approach to this: http://www.jgutierrezlaw.com/uploads/Subdivisions....Is there anyone around that has subdivided their own property in Oakland?

I do agree with @Anthony R. that you need to be sure to include enough in your budget for repairs and also Capital Expenditures (new roof, furnace, etc) I think @Ben Leybovich did a study a while back and found the average home in American needed about $250 in repairs per month if you really figure in everything that will eventually wear out (the entire home accept the foundation and framing).

I will initially be looking to purchase 2-4 door multi family property, however my goal is to eventually move into the 10-50 door apartment complex space. 

Turnkey is a long-term investment focused on cash flow, so you let your tenants pay off your loan, you pocket the net income for a while, and then eventually the property is paid off and your cash flow balloons, usually around the time you really need it for retirement.

Due to the low new development over the last 7 years and the influx of people relocating into the SGF market, inventory is incredibly low across the board.