Are you saying look at a duplex, and double the price to somewhat draw a comp to a 4-unit? 

& @Casey Mericle  IRA lenders is a good idea though this isn't for a IRA transaction@Michael Le The broker I've been chatting with has said $1mil+ for balances but maybe that is due to transaction costs being a considerably higher % as you get smaller and smaller.  

That would quash the LO idea for me.Sub2 may work if you place a TB on a LO that is handy and wants to earn part of their option consideration in the form of sweat equity.  

First of all you'll need to speak to a lender to see what you can qualify for and make sure to take the new build into consideration!

Independent cost segregation firms have brought the costs down considerably and now any property owner can get a cost segregation study for a few thousand depending on the size and complexity of the property. 

Then draw up a contract that spells out what is to be done, what the cost is, what the requirements are, etc.  

@Deanna McCormick  too funny .. if they did this to me I would tear up the lease as its not valid without consideration.. send an email to them telling them they are out no keys will be provided and wish them luck.. but that's me.

@Alex Velez I'd take into consideration the VA funding fee for your mortgage payment.

By no means am I saying not to do it - just make sure that you take everything into consideration.

A few points of consideration:- Running through the numbers, the house will not be cash flow positive on day one (If I buy at the appraised value).