That all said, the asking prices are just that, asking prices.

We're starting to see the fallout from this - borrowers cant exit deals without taking a loss but are refusing to accept this.SC seems to be doing OK at the moment, but Louisiana is seeing price declines.

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. 

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.

Hi Erica, what I've notice is that high-quality (high-priced) washer and dryers don't out perform other based price models in rentals. 

Credit score- the higher the best. 760-780+ generally gets best pricing for investment property loans with most lenders.

Fast forward two months, and now the property is rented out, so I decided it was time to refinance.

In North Jersey, buying is difficult from my beginner perspective with high prices, property tax, etc.Barrier to entry feels high in my area.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

I have spreadsheets filled with material lists for every phase of the build that includes pricing for materials as well as labor, and sources that I use for them.