Agree very much, with real estate you can have more direct control on your investment, there is an awesome ability to leverage to scale and grow more quickly, and you get some great tax and income benefits along the way

(Who has no control over who lives next to her.)Check your local laws for noise ordinances.

That is even with city-controlled water meters. 

This is in reference to the RCJC Rent Control and Just Cause form. 

That said, for those units not subject to statewide rent control, rents have experienced significant increases this year.

Hi Garrett,Just off the top of my head, here are some of the steps you might want to take.Seek a construction lender for the job as as well as a lender for when you are stabilized.Find out what the Lender Requirements are for YOU (and your Partners and Co-signers) and for the Project, and work to meet the requirements.Open your dialog with a Lender(s) early on, and keep an eye on interest rates if they flux up you may want to reconsider doing your build.Talk to an Architectural Firm (that has built recently in the area) apartments of the size and type you are wanting.Ask them for some rough (You Spend) figures with timelines on them and see if that matches your Vision for the project (be ready to take out your checkbook for this).If it's a GO, have them recommend a General Contractor for the job (that has built recently in the area) apartments of the size and type you are wanting.If there are tax incentives tied to the project for certain renter classes have your CPA figure that into your projections.Consider any "Dirtwork" (soil engineering for poor soil) or required "Drainage" costs on your chosen site (or shortlist of sites).If it's a GO, tie up legal control of your building site.Note: Big construction can Bite you in a Big way if you have little experience in it.

I feel like since its rent control and very tenant friendly here, anything we do can be misconstrued or I can be sued for it.

All the areas I’ve searched in (except Burbank) are rent controlled.

The convenience of our mobile devices saves precious time in our busy schedules.Perhaps the other 75% is more upscale I will check.

I have Android devices and would love to make this analysis more accurate and efficient.