I tell my grandkids all the time: hard work and vision trumps everything else.

He told me that technically I dont even have to report that I am going to split the lot and build a duplex on it.

I won't say never, but 1% rule on small multifamily in DFW is so rare, I probably wouldn't even dream of that in today's market. 

5) Consider meeting with a few agents in your area even if you are just getting started!

Thank you everyone for this helpful information, has anyone pulled off a successful BRRRR, in the past six months, or have you assisted someone with a BRRRR, in the Central Florida area?

If you aren't happy, even excited about a deal, walk.

Is it wise to do this and be debt free even though my total payments on those 5 properties will go up $500? 

Many California tenants know the law better than the landlords and they have free access to legal assistance.

Feel free to reach out if I can be of any assistance.

This doesn't even account for the equity gain that is likely to be seen throughout the build processOn the flip side, depending on the location of your parcel, it could be in a high demand area that you could cash out by selling the property quickly.