New construction, 10 hours away

[Martin S.]

I fell in love with a particular state, which I drove by on my way to Florida from NYC. I was looking at some bank owned foreclosures, which were ok but not great, and then I decided to drive into a new constuction community and was blown away, at $200k I could have a brand new 3,000 sqft 3 bed with game room, great room, living room, dining room, .5 acres, community pool, basketball, tennis, soccer only $45 HOA. 30 minutes from the center of the major city in that state. Why would I pay $140k for a 1,400sqft 30+ year old home when I can have a house thats twice as big in a better neighborhood and get much better tenants and rent. Makes sense right?

I dont usually hear about real estate investors going after new constuction that much, usually they focus on foreclosures, short sales or wholesalers, from what I gather from reading everywhere. Wouldn't new constuction, especially in this situation be a much better deal, especially since I wont have any repair costs for at least 10 years (warranty)...?