The majority of 1-4 MF are in super expensive areas like Montrose, less desirable areas outside of town, or new developments which haven't proven their long term attraction. 

But this is the type of place where development happens to acquire both.

I work with several retail developers in Houston, Texas. 

I'm currently finishing my first development project in Cobble Hill Brooklyn, and would be glad to pass along more info. that might be of help to you. 

My recommendation when people ask about getting into this, my knee jerk response is, "go work for a large MF or commercial developer".

Do you see any opportunity for growth/development? 

But once you subdivide the lot and develop or sell the new back units, those are likely treated as separate properties for tax purposes—and they won’t qualify for the same exclusion.

Hey Derik, Indy is definitely a solid and growing market, especially if you’re planning to house hack, and the downtown area has been seeing a lot of development and population growth compared to the rest of the state.

There are markets where developers built product relying on the mentality "build and they will come" with no coherent thesis behind why and those are markets where there will truly be long term pain. 

I've been able to explore it using this website:https://981.jp/Because it is so weird, I feel like I can exchange a lot of value with other people who have developed some insights into that specific niche market.I want to find more out about the specifics of the process, if it's possible to get financing for it, what are the possible pitfalls etc.Does anyone have any insight to this?