Florence, Alabama, is gaining traction among real estate investors, offering prime opportunities in land and new construction.

You are putting money in, and qualifying for the construction loan, while being forced to use them to execute and lease up.  

Never buy any property without physically inspecting it and its neighborhood yourself, AND having it thoroughly inspected by a great inspector who YOU select and pay for.

@Max Bellino You seem eager to learn and I hope you accept this as constructive criticism.

This past week, I feel like I spent more time on the real estate than the restaurants (city inspections, building permits, managing a construction crew, late rent from tenants, etc. etc. etc). 

So, if interest rates are a buyer’s primary roadblock, then I recommend negotiating a rate buydown at a seller’s expense or looking at new construction, where builders are offering rate reductions and other substantial incentives.What if I’m a seller?

In this approach, the taxpayer calculated that the cost to construct a new building (say, $300 per square foot at 2,000 square feet, totaling $600,000) should be allocated to building and the remaining balance of the acquisition should be allocated to land.Rule of thumb method: Some taxpayers use a predetermined percentage (such as 80/20 percent, 70/30 percent, etc.) for improvements and land.

There are other considerations that may still make it impossible to permit the construction of the building even  if the by-right use permit is obtained and its important to have an architect closely examine how the proposed floor plans will layout to confirm egress &  bedroom windows + localized zoning overlays along with a  number of other factors.

You would have more options as far as construction loans for sure (If you are needing to get a loan).

Brand new construction rents at a premium.