There are new construction homes about 2-3 miles away going for 190-200,000 but I think they may be a bit larger than what I am building.

Lessons Learned: I should have transitioned to larger commercial deals sooner.

Brian,We see a lot of "residential" investors taking on larger deductibles than they have in years past, and even more so as we see rates increasing in a hard insurance market. 

In 2022, we had guests with dogs that scratched the floors (repeated scratching of the floor that they do, when they want to go outside) in front of the patio doors. 

Would it be buying more of the same type of properties or expanding into larger properties?

Fannie Mae allows for higher loan amounts and larger renovations (up to $806,500 in most states). 

I do not recommend paying any upfront fees, unless it's with a large bank that typically requires a good faith deposit on larger transactions.

Leave the owners alone, when and if they are ready to sell, they will, and there will be plenty of lots to choose from on the MLS.I have no statistics to back this up, but in my casual observation after our fire is about 1/3 of the owners rebuilt their homes (some built similar, some duplicated exactly--big mistake, and some built better/nicer/larger homes). 

.- Larger jobs may require requests for more detail, so the above steps can be applied.Be sure to check your management contract for what you agreed to.

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment?