Please note that we focus on new construction properties mainly, which is different than the traditional "turnkey" model.  

I also manage about 50 new construction homes for other owners in various places, and even though there is less R&M than older stuff, stuff still breaks and you need to fix it. 

I hear a lot of investors, realtors, and other real estate professionals saying that they are looking for vacant lots/land to build on. Genuinely curious what people's plans are for these lots, and why so many people ...

Currently I'm constructing duplexes, 4-plexes and working on an 8 unit as well.

I can't speak for all investors, but I know I have become more conservative with the rising cost of construction, interest rates, insurance costs, and vacancy hold outs. 

I would say compare terms, seasoning period requirements (Assuming when you mentioned construction loan you're talking about a rehab project), response time of your rep, learn as much about their loan underwriting and approval process as you can.

We have years of new construction experience, most projects being our owner’s own investments.

Lastly, the home needs to be rent ready so it can pass appraisal (cannot be under construction).

I've done a couple small projects (drywall, painting, shower installation) with Fox Construction recently.  

We couldn't afford it at today's construction prices.