I will close by saying I am not expecting a be a multi-millionaire by next year following someone's system.

buy a small multi and rent out all of the other units. then rent out all of the bedrooms in your unit and sleep on the couch. 

Thank you so much, yes for a small multi family,  I’ve tried with first bank ( and they’re dragging their feet).

Quote from @Account Closed: Hey guys,I have no experience but after looking at all my options I have come to a conclusion that my best move is to buy land and develop multi-family apartment building (15-20 unit) 2 story somewhere between Miami Jupiter.Budget for everything 3MDone with cash + 6% line of creditLooking for long term holdI would love to hear any insight on what areas I should look at, ballpark of build price (hard costs and soft costs) and would love to network with anyone in the area on this.ThanksIf you're looking to develop a 15-20 unit multifamily building with a $3M budget between Miami and Jupiter, there are a few key things to consider:Land Budget: Aim to keep land costs around 10% of your total budget.

They buck the passive rules for 469, and are considered active.BUT - As with any other business, to deduct the losses the owner must materially participate.Material participation is achieved by:1.

.: Quote from @Greg Parker: Just work it out with multi-member LLC's. 

Just as there is times of buyers market, sellers market or level market, there is times where it's a SFH market, Small Multi market, and MFH market. 

Investment Info:Small multi-family (2-4 units) note investment investment.

Plus, multi-units tend to cash flow more reliably than SFHs in high-price markets.3.

You can find good multi-family that cashflow under $200k for sure.