When investing in New Construction, you are controlling the property for the first, BEST years of a buildings life.  

Lots of cheap areas look really high COC but then you have an eviction or lots of turnover costs and the COC in real life gets way lower.

Life is too short to end up with parters you can’t stand lol.

Further, many (again may not be a majority, just more than another group) have life’s “out of control”; domestic violence, drive by shootings, kids with gang affiliations.  

Get a life.

I can tell you numerous stories of CA investors that I've met at meet ups who have lost money OOS, especially Class C. 

In our24 years of experience, managing almost 100 S8 leases currently, the average S8 tenant has a FICO under 580, numerous collections from utility & cell phone companies, doesn't want to pay a security deposit, much less an application fee and claims they don't know how to fill out their S8 paperwork despite being in the program for several years - hint: they want YOU to do it for them.Most, not all, are eligible for government assistance due to a funeral-march of bad choices.REALITY: you are trust trading one set of problems for another.You can succeed with S8, but you need to understand the challenges and plan accordingly.

Real Life: My client discovered that the PM company was $350 under market rent and allowed for an extra 2 weeks of turn time.

The unit was 20 years old and most of what was replaced was at the end of its life cycle anyway .

For numerous reasons, this strategy is not anywhere near as simple as it appears, and the risk of default problems can be quite high if the seller is inexperienced or unknowledgeable.