The strategy is elegant in its simplicity: transform one lot into a four-unit residential complex by renovating the original structure into two units and adding two new Accessory Dwelling Units (ADUs).

I am unsure if I should just pass on this deal and wait for something better but these smaller complexes in my price range are hard to find and not sure if I am overthinking.  

If you walk into any well run, quality apartment complex and go through the application process and then tell them "oh no I'm not comfortable with giving my last 3 paystubs" they won't care and will say I'm sorry but those are our requirements have a nice day.

LP with a Canadian corporation or similar structures to help with liability and tax treatment, but it’s definitely something a cross-border CPA and tax attorney should guide because the filings and compliance can get complex pretty fast.

Five units isn’t operationally complex, but without structure, small misses compound — lease dates, late fees, maintenance follow-ups.Where DIY usually succeeds is when owners lock in a few non-negotiables:One official communication channel (no scattered texts)Clear late fee enforcement and automated remindersA lease expiration tracking system with 60–90 day alertsDefined maintenance approval thresholds so every repair doesn’t require a mental decisionSpreadsheets can work, but only if someone treats them like a system — most people don’t.

VA assumptions add an extra layer of complexity that can be challenging for unprepared buyers and sellers.

Otherwise, you're just adding complexity for no return.What's your target market right now, and are you seeing more competitive bidding wars on listed properties or more off-market deals with motivated sellers where structure could really matter?

Scales well but costs more.Yardi – Very robust, but heavier and more complex.

One person who contacted my Aunt said that their plans would be to build an apartment complex there or have rental property there.

Go shop a couple of apartment complexes near your development and see their pricing and "specials".Check to make sure the builder and HOA allow rentals.