And do you have a certain price range in mind and I assume you're good with up to a moderate level of rehab?

I think some other numbers to consider are, what can you get for the $700k to $800k range right now?

@Nik Verret Airbnb and VRBO should be sufficient as you start off.

As you mentioned, that expense range is not super helpful. 

Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up. 

You can still find single-family homes in the $80k–$100k range and duplexes in the $130k–$150k range, even in C and C+ neighborhoods that are seeing steady improvements.

Please advise.ThanksMelAllstate: They offer a range of property insurance options.Farmers Insurance: Known for providing various insurance policies, including for rental properties.Liberty Mutual: Has a presence in California and may be able to meet your needs.Nationwide: Offers property insurance and may have suitable policies.Good luck in finding the right coverage! 

What price range are you looking for?  

I’d love to hear more about your experiences over the years.We are specifically looking to purchase single-family homes in the $80,000–$150,000 range and are considering renting them through Section 8.

somewhere in the price range of 50k-100k, because thats  what I can put a 25% down payment on.It sucks not being able to take advantage of an FHA loan for my first home purchase, but I don’t see myself moving soon because my entire family lives in LA.