New construction vs existing

[Briana May]

Hello!

I am currently looking into possibly buying SFH for buy/hold vs. doing new construction (buy/hold). The city I am currently in has lots of plots of land for sale that are fit for a SFH. I am looking at affordable housing some I may think of doing section 8. The City currently owns the land and is selling it for cheap (anywhere between $500-$5000) per lot. The lot must have a SFH on it within 9 mo and can be kept and used as a rental. I was thinking of doing this as my first venture. I have a very trustworthy contractor on my team who has been in busy for many years.

This would be my first property. I am not looking for easy I am looking for profitability and I am in the real estate game for the long haul. 

So what are your thoughts new construction or existing? Anyone done this and have any pros/cons?