I've been in construction for over 10 years and understand the rehab side of it.I know what market I would like to start with. 

So our plan has always been new construction so that’s where our head has been.

But I will continue as a Realtor for the next few years in both residential and multifamily.Of late I have hired a great Bookkeeper, and a Techy guy for most things IT.I have experience in all types construction except high-rise.

If you can find a fixer upper- not a complete gut, you could get a 203k FHA loan, its like a construction loan so the bank will give you the financing to fix up the place. 

It has a finished attic that is not one of the BRs and do not believe the finished attic would meet today's construction code (the property was built in the 40s/50s). 

The thought is, we would buy the building through our LLC, and his construction company would rent out that space.

2 weeks after finally getting the construction building permits, the world stopped by a global pandemic!

But does anyone have any constructive advice on this? 

He ended up having to sell the property to a builder who tore the duplex down and built a new construction house. 

I'm working on getting my RE license now and have a small construction company, so let me know if I am able to be of any help :)  Good luck!