Multi-family residential (also known as Multi-dwelling unit or MDU) is a classification of housing where multiple separate housing units for residential (i.e. non-commercial) inhabitants are contained within one building or several buildings within one complex. A common form is an apartment building. Sometimes units in a multi-family residential building are condominiums, where typically the units are owned individually rather than leased from a single apartment building owner
Infill housing is the insertion of additional housing units into an already approved subdivision or neighborhood. These can be provided as additional units built on the same lot, by dividing existing homes into multiple units, or by creating new residential lots by further subdivision or lot line adjustments. Units may also be built on vacant lots.
Under the "fix and flip" scenario, an investor or flipper will purchase a house at price often deeply discounted from the house's market value. The discount may be due to the house's condition (e.g., the house needs major renovations and/or repairs) or the owner(s) needing to sell a house quickly (e.g., relocation, divorce, pending foreclosure). The investor will then perform necessary renovations and repairs, and attempt to make a profit by selling the house quickly at a higher price (closer to or maybe a bit above market value).
A custom home is a one-of-a-kind home that is designed for a specific client and for a particular location. The custom home builder may use plans created by an architect or by a professional home designer. Custom homes afford consumers the opportunity to control layout, lot size, and accessibility.