Quite often, new home construction is the result of new residents moving in who are middle class or wealthier, attracted by jobs, a healthy local economy, or other amenities as they leave nearby or far away areas for greener pastures.

For example University City could be a great opportunity to AirBnB with all of the attractions and Wash U nearby but they only allow it if it’s your primary residence.

Unless there is major development nearby, I would see it as fairly difficult to resell for a significantly higher price unless you come across an inexperienced investor. 

My main investment is in a town of 16,000 people and I have another nearby in a town of maybe 20,000.

Check out Events for upcoming REI meetups near you, you'll sure to find investors and wholesalers nearby

I took out a HELOC on my principal residence and bought a 4 unit bldg. nearby.

You can also look up nearby buildings (Google Maps) and use Craigslist, apartments.com, zillow/trulia etc to get comps. 

It would be a different story if you lived in California or New York, given the real estate prices nearby to those metros, but in the southeast you have many more options. 

There are some markets nearby with lower price points and similar rents.

You may check out the nearby members and network at https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.