Is Jacksonville, FL a good rental market for landlords?

[John S.]

Hi community, I’m interested in investing in a new construction 4plex in Jacksonville, FL. The units are near a larger apartment complex called Lakeside apartment, 8700 Southside Blvd, 32256. I need to put 10% down and wait for construction to finished mid-2020. I calculate ROI is ~6% for 25% down. The ROI excludes 75% placement fee. With placement fee deducted for 4 units, ROI drops to ~4%. What is the community’s opinion on this investment? Is it too risky investment since it cannot rent until 1.5yrs later? If you have bought new construction as rental, can you share your Pro and Con? I have concerns a 4plex is a worse investment than multiple SFH because the latter appreciate faster. Thanks.