@Tom Veit While I know building material costs are through the roof right now I have only seen it be a major influence in my investors decision making when debating on whether or not to develop a new build property.

Will develop property with new construction within the next year.

If you need the additional capital from a sale, go that route.And while it is true that a 4 plex is valued based on comps, what many people seem to forget is that a GRM valuation is a standard valuation technique on a residential appraisal.  

You have to develop the skill sets over time. 

Developing systems to source solid off market deals will help open doors to other things you need to ultimately be successful.

I have since legalized the basement suite by adding interconnected smoke alarms, sprinklers in the mechanical room and applying for development and building permits.Location: Huntington Hills, CalgaryRent: Main Floor $1325 Basement Suite: $950 Garage: $300 Total: $2575Net cash flow: $460 What made you interested in investing in this type of deal?

I added sprinklers in the mechanical room, wirelessly interconnected smoke/co alarm (with hard wired power connections) in the basement bedroom, mechanical room, living room, staircase and 1 upstairs, development permit with the City of Calgary because the lot was zoned RC-1, building, plumbing and electrical permit for the renos.

Is it suitable for other development?

I can see properties near travel hubs developing into a nice niche market for me.

It does not matter where you start as long as you develop your Core 4.