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.

I have grown my investments in Back of the Yards for various reasons, but my main one is: I grew up there and see high potential for growth in that area. 

With the right preparation and understanding of how banks operate regarding these properties, you can potentially secure a deal that works for your investment goals.

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

One key advantage for both your owner-financed primary residence and potentially the single-family home, if it's not your primary residence, is the mortgage interest deduction.

This is where you can really gain some sweat equity and potentially have better tenants over time.

I understand where your agent is coming from, turn key properties are potentially less risky for beginners.

I recently came across an interesting situation. My wife and I noticed a home being built sometime around a year ago. The home is finished part from the ( cabinet door and drawer fronts, countertops, baseboard, final ...

Ram's plan is to pyramid up as best can during these growth years, keeping any/all profits IN the investing action, to grow maximum dividend potential for when kids start university when Ram will "flip the switch" too a DIVIDEND focus. 

Since some of your clients could potentially be investors, you could start developing some relationships there to assist you down the line.