It goes to your preference, of course, but whichever can produce the greatest ROI should be considered.There are many markets in Michigan, for example, where it is cheaper to buy an existing house and fix it up than it is to build new.That may not be the case where you are at or through the construction suppliers and contractors you may have access to.To Your Success!

So does that mean I can't buy from a related party at all?? 

We went from buying light rehabs to buying major foundation and mold issues to make numbers work until even that did not work anymore.

An opportunity to buy my second property has come.

from those I know the way they got going was to buy a 4 plex when it went up in value sell and buy an 8 when it went up sell buy a 16  then a 40 then 100 extra and you need no partners.. you grow it organically. however of course this is not pay 40k and your instantly an apartment owner..

We typically buy and hold but it would depend on the numbers for this project, we'd be open to either BRRR or fix and flip so there's a few possibilities.

Are there any investors looking to team up and any lenders for buy and holds and new construction?

Buy: $284,900Rehab: $115,000Holding: $16,500 Points: $3,413 Selling fee: $30,000Insurance hold: $2,000-$2,500 (maybe get back $1,000-$1500 if you close quick)Other title/escrow purchase: $2,500ARV: $500,000Profit: $46,587 (9.25% approx) I would do the deal, especially if you get that gap for rehab closed 3-4 months and tighten up the rehab costs too ($100,000)   

Buying a condo in Treasure Island could be a great move, but be sure you're prepared for the next hurricane.

Investment Info:Single-family residence buy & hold investment.