According to the National Association of HomebuildersStudies show that regulations imposed by government (mostly state/local) account for nearly 25% of the price of building a single-family home and more than 40% of the cost of a typical multifamily development (aka why the rent be so damn high) (NAHB).The Reality of New Construction and Affordable HousingIt’s fundamentally illogical to expect the newest, most expensive (and yet most efficient way per unit to build housing)— aka newly built multifamily apartments—to serve as the primary source of affordable or workforce housing.

Being Pro-Active versus Reactive is always the most efficient and least painful response!

Financing & Carry Costs: ~$185,000 (~7%)Bank Fees: $62,530Interest Reserve: $103,521Prepaid Interest & Closing Costs: ~$10,000Escrow / Title / Broker Fees: ~$18,000Quick TakeawaysAll-in cost: ~$232K/unitHard cost efficiency: ~$219/SF (very solid for this product)Soft costs + financing: ~20% of total (tight, not bloated)Contingency + reserves: ~$165K built in

When you know exactly what your buyers want you can target your marketing more efficiently.

Next- check their Linkedin and actual workplace history and education.Working for a corporation in their accounting department is often completely unrelated to preparing personal and business tax returns. 

@Jacob SwitzerThe key is to have all your software integrate efficiently with one another and automate as much as possible. 

Interested to hear what processes people are using that help keep things organized and efficient for everyone involved.

Weekends are smart for showing, but consider scheduling multiple short blocks so you can handle interest efficiently.

The most efficient and cost-effective approach might be to find a very local real estate attorney who will get this done at a flat rate.

That can be a powerful wealth-building tool early on.Buying strictly as an investor (Plan 1) gives you immediate depreciation and rental deductions, but you’ll likely have higher interest rates and you lose the primary residence capital gains benefit.The bigger difference is financing efficiency.