Looking To Build A 4 Unit Rental Property

[Scott Johnson]

Hey, BP!

My grandfather's Alzheimers is coming to a head and he's needing more attention and care. Over the last three years, my brother and I have been helping my parents develop their rental portfolio so they can retire. Naturally, my first thought was "How, can we pay for Grandpa's long-term care?". 

There is a lack of Residential Multi-Unit properties here in my area and with the growth we're seeing, I feel like there may be time for some more to pop up. Since we can't find many on the market, we're looking at building one. We chose 4-Unit because we're looking for land outside of the city limits, and Rural Residential (RR) zoning (Which a lot of the land is) allows us to develop up to a 4-Unit property without changing the zoning. We're leaning more toward four smaller houses, rather than one building, and building them so they can be parceled out and sold in the future. 

I'm educating myself on the master plan for our county so I know what they're wanting to be done in a given area. 

I'm looking to connect with someone who has developed a Residential Multi-Family property before. I'm happy to work for free on any project you're doing or trade services in return for being able to shadow you. My skillset is centered around video marketing and relationship development.

The questions I have are as follows:

- What questions should I ask when interviewing builders?

- Does it matter where the builder is located, or do they just subcontract local people?

- What are your thoughts on one building (or side-by-side houses) vs building so each unit can be parceled out in the future?

Thanks in advance!