New built home as rental

[Colin Murphy]

Just starting out and I have this idea that purchasing a town home from a builder would make for a great rental. Pros: - reputable builder - growing area in west Ottawa - trendy, new outlets, lots of new development - attract high level tenant - good for buy&hold long term Cons: - wait for closing - might be tough to rent if cannot show - lose most profit as it goes to the builder - would need a larger than usual down payment (30-50% +) to cash flow *also I am completely new at this and only see it happening with a JV partner who provides the capital. Can this strategy work?