Building a Duplex to Rent
My wife's aunt has a property that is two lots wide. She is wanting us to buy it as she needs the money for health care ( and keep the property in the family). The area has exploded with duplexes in the last few years (new construction). I don't think it would be hard to get it zoned as there are 40 new units across the street. My concern is: can I make decent cash flow from building and renting a new duplex? There is a large university less than 3 miles away. The duplexes in the area are 1100 sqf with 3bed/2 bath and 2 cars garage. I haven't talked to a builder yet so I don't have the numbers to run. Would like some feedback from anyone who has built and rented new duplexes. Thanks,