Anyone built multifamily from the ground up?

.- water efficient heads- Chicago controls thermostats- coin op laundry was our move this year- big ticket item but I am still a kid when I empty the quarters 👍 - make room for parking on the property- additional $- turn the boiler down.

He has extra lots for 4 more duplexes to be built on the property and a building currently present that can be built into a 1bed1bath easily.

The house was actually built in 1870, but is in very good condition.  

For instance, there is a fourplex , built in 1910.

@Rupert GrantGenerally if you're eligible for a Solo 401k, it makes sense compared to a self-directed IRA for many reasons: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.You can borrow up to $50k from the plan; IRAs do not allow participant loansThere is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)The one exception I can think of is if your primary goal is to self-directed Roth IRA funds.

Fix items quickly when a tenant let's you know something is broke.

A charitable donation deduction will be limited to 50% of your adjusted gross income or less and the relative tax benefit will also be affected by the amounts of other itemized deductions you claim.

Mostly because the mortgage could be called at anytime (if i understand how subject to works)  you can use the built up equity to buy a 5 plex which you can get commercial financing for which does not need you to have income - it qualifies based on the income of the property.

I understand the bank being concerned if they deem the HELOC is being used on a speculative investment that may be at risk during a downturn such as a spec home or flip, but do you think they pose the same risk if he were to use it to buy lower end rentals below market value with equity most likely already built into the deal?