Quote from @Brendan Bello: Quote from @Douglas Alexander: @Brooks Rembert everything I've read says that it can be done, but it'll be hard to get the construction loan.

I reached out to an insurance broker today and he had indicated that we would need a constructions insurance policy for the renovation phase of the project.

Anyone know of a good areas for new construction, hoping to keep price point under $200k for 3/2/2 SFR. buy and hold. thanks in advance for any insights into this market.

I met with the contractor Sanborn Construction Group but being out of state wanted to see if anyone had worked with them in the past and could give a refferal good or bad. 

Do you draw any hard lines in the "Year Constructed" sand? 

Acquired to support broader community revitalization, this land is slated for the construction of 12 patio homes and two duplexes.

Calvin Lee,You won't really find a 7 cap Dollar General in a strong suburban to urban core location unless limited years remaining on primary lease term and mostly cash deals or very small financing.The brand new Dollar Generals with upgraded construction all around in strong suburban to urban core areas tend to sell for 5.75 to 6.4 caps with new leases in place.The 7 cap new Dollar Generals tend to be in crap areas weak suburban to rural and cheap construction and many times on septic systems instead of county or city sewer.Every once in awhile in a strong location there might be a 7 cap with 10 years left on a high end Dollar General at 3 million in price or up.These have no rental increases in primary lease term so year over year your income dollar becomes worth less and less.

I added value to the deal by completing quick cosmetic repairs, allowing the property to be rented immediately and generate cash flow while preparing for ADU construction.

It lowers wages for us, construction wages have not gone up since 1960 likely due to illegal immigration.

Our overall Construction costs have gone up 20%.