To build or not to build that is the question

I was wondering what you guys think about building a new four-plex and then renting it out. I am in the Central Texas area and would like to get into multi-family units but was thinking of building something new since there is not a lot of used units for sale. Does anyone have experience when it comes to renting out and managine four-plexs and if so what have your experiences been like.

I am wanting to continue with purchasing pre-foreclosures and flipping them but would like to get some passive income coming in on a monthly basis.

Any advice would be greatly appreciated.