Quote from @Caleb Brown: I think it's not as worth it for builders.

Im currently networking to partner up with a home builder here in Staten Island and build Semis on empty land.

An idle brain/body just begins to get worse if you stop using them.

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@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.

We're working with a new construction builder who has an in-house lender (Austin, Texas area).

You should look into new construction, A builder like Lennar in Bulverde area.

This person can then get you set up with a builder, if necessary, lending, Insurance, and property management.  

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

I have newer properties that spec builders just through up and have issues with.