Because all these new construction homes were either started or finished during high inflationary times in regards to both materials and general real estate.

Rates are in the high 5.00% - low 6.00% range for "Mission Driven" assets with rents <=80% AMI Net Max Rents.

I've said it before & I'll say it again, I'm not convinced a consumer driven economy is the best for a country.

Its handy for me to store maintenance materials, lumber, vanities, applicances, etc, for my other properties.

Because of material participation I can deduct that $350k vs other income.Using combined federal and state tax rate of 40% x $350k = $140k in immediate tax savings.

Florida: Pros: No state income tax, favorable eviction laws, and a strong rental market driven by tourism and population growth.

My guess is materials from stores like Home Depot or Lowes.

The number one thing I tell fellow investors is that in the city proper you will deal with 36th district court and that has a material impact on the speed with which the court process will proceed if you need to evict. 

I self manage, have material participation status and file on a schedule C.

There are still materials and maybe some other specific trades, which you and your sons may not be able to do.* Ask that same real estate professional above, if it is worth doing the rehab, if you decide to sell?