I bought a 3/2/2 SFH1000 SF, move- in ready ( built in 2003) for $165k but they wanted $175K but I paid cash & closed quickly. 

Newly built homes start in the $270s in suburban communities, like Los Lunas and Belen, or low $300s in class A neighborhoods in Rio Rancho and NW Albuquerque.

So, the solution to the problem is built into the system.  

Quote from @Algerson Andre: Hello Everyone - I own property in Buffalo,NY that sits on a big lot that has the potential to serve as ground for a New construction duplex to be built.

Anyone under 30 grew up as the internet was getting built and kids under 20 are totally emerged in a digital life. 

Plus, with your market's rapid development, you could lock in your gains now while the market's strong.

I definitely prefer this option as the whole point is to get built-in equity.

I am all for taking risks in life, but we also have a 1 year old son now and I don't want to jeopardize the life we've built so far.

Then in a year move out and buy another home with the equity you have built up in the home.Great thing about buying a 2-4 unit as a Primary is you only need 3.5% to 5% down which ever on you choose either FHA or Fannie Mae.

Many of which were probably company built.