The buyer will understand that they have to honor the leases that are in place but will be able to do what they want at the expiration of the lease (it sounds like their are no renewal options or lease extensions available in the lease your wrote).I hope this helps some.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Unfortunately, it sounds like this will not really be doable so I am going to start looking for duplexes-quadplexes.

Not sure how sound that strategy is, but figured I should at least try to do something with it.If all else seems to challenging, difficult or makes me uneasy, I’ll just stick with what I know best: SFR rentals.

How does that sound?

Sounds like you have a nice nest egg saved up which is awesome!

Sound like our ares of interest don’t overlap much. 

At the planning stage, sit down with your contractor and architect and walk through every detail of the project.

:) But I’m brand new at this and just educating myself for the first time... so far the main criteria to finding a ‘proper deal’ I’m aware of is to make sure you but your property at a discount. (20% - 30% discount seems right but I’m sure practicing this is much more difficult than it sounds.) 

Sounds like youre on a good path.Ive always found that the various inspectors are incredibly helpful, as long as you come at them with honesty, showing your intent to work with them and not against them.