Building New to Rent

[Keith Everette Smith]

Hello! I'm new to the forum. I'm considering the pros and cons of building new constructions for the purpose of renting. Kind of a BRRRR strategy but without the renovation. It'd kinda go like this... Build (with cash), Rent, Refinance, Repeat.

I can build a 1400sqft single-family house for $135k that will appraise for $175k.  77% ABV (after build value).  The homes are in an area with great schools, low rental inventory, growing market, etc.

What do you think?  What should I also be thinking about in this?  Should this work?  Have others tried it?  

I'd love to strike up a conversation and talk this out. 

Keith