With local home and land prices so expensive, I'd like to explore building a Tri or FourPlex on the back half of the lot. 

I have several rentals in Goldsboro and I am currently building a new construction in Kinston.

It is also a huge benefit for your personal brand (let's be honest, we live in a judgemental society).  

Quote from @Daniel Johnson: I think the thing that is being missed here is the Profit First method of allocating revenue to different “buckets” there are banks that do this automatically for you, whereas, with a traditional bank you would manually have to do this.Are these buckets brand new accounts withe one bank for the same business, or are the buckets new accounts under a pre-exsing account?

The PM doesn't seem to be doing a good job of screening tenants and with multi unit buildings if one tenant gets away with not paying the rent, you can bet they talk to the others who then do the same.

This investment is a great first step to building your real estate portfolio, remember to factor in potential fluctuations for refinancing and have a buffer in your rehab budget for a smoother experience.

Property is purchased for $100,000 when it is a single member LLC.Property appreciates to $200,000 and partner B buys 50% into the partnership when the property is valued at $200,000He should be able to depreciate 50% of the $200,000 building which is $100,000 instead of $50,000 

I'd like to know the cost of building the townhome pad ready to set 8-10 new townhomes.

@Michael White is it safe to say you'll be building new?

Purchase price: $250,000 Cash invested: $250,000 Build out income stream with fix and flip upon tenant exit