Buy vs. build multifamily

[Jeanette Czachur]

Thinking about investing in a multifamily units and wonder if we should consider new construction vs. buying a pre-existing unit.  In a strong rental market for both annual and seasonal.  There are limited used & very dated/ugly properties available in our area for around $200k.  Can build 1800 sq ft duplex 2/2/1 for around $230k and rent for $1200+ annual or $2500 seasonal.   Thinking shiny and new might make sense for buy/hold 10 yr.  Done a couple of SF deals made some $$ but hubby and I essentially newbies educating ourselves & finding our niche looking to expand our RE investments. Actually would like to build one unit and expand to total of 8 duplexes (16 rentals) in a single compound over a period of 5 years.  Looking to supplement retirement-he's retired and I'm still working full time for next 2-5 yrs.   Crazy or not?