Could you go reinvest it in another property to build even more income?

It is likely the case that you can just deprecate the entire building and treat this as a vacancy.

I want to build financial independence through real estate investing.

Unfortunately it isn't profitable to build.

My thought was more that the real estate may not pay as much immediately, but to start building a portfolio, it might pay out bigger in the long term, if it becomes the stepping stone to start the process of buying multiple properties over time.Of course, this is all conceptual and I can see the possibility that it might not play out like that due to unforeseen market conditions, etc. 

In today's Wall St Journal- Fortune Favors Early Movers in America’s Property CrunchInvestors willing to buy buildings when everyone else is running scared typically get the biggest rewards.

Lastly, they like building relationships.

A pure junk response.The only important factor to consider is  "Can a real estate investor build more wealth by leveraging the cash value of a life insurance policy instead of using their own cash?"

.- Build with cash and slowly for a strong foundation.- After 3-4 years, look at using leverage to speed up portfolio growth.- Always own 50% of portfolio with cash owned properties.Portfolio should then be secure and cashflow positive.Just my opinion 😁

Hi BP, I am a newbie investor in Houston, TX and I want to build a rental portfolio.