Based on my market knowledge, 350k for a new constructions with close to 3k in rent seems like a fairly solid deal for the area.

I see this a lot in the current market, and saw it a fair amount in the down market.  

Finally have enough to consider making a play here and looking to find some locals and read further experiences here. 

I have  water damage in one of my properties in MD, and the IA is playing hard ball.

  * A bonus play would be purchasing a small commercial property with at least a 25 space lot in the aforementioned areas; the idea is to convert the lot into paid parking to increase value.   

When it is a new development, it isn't uncommon to see someone use the date the Certificate of Occupancy was issued - perhaps that marks the "ready", but it still might not be "available".So you can certainly have a property in service in a given year, but not actually have any rental income - but certainly your facts and circumstances are much better if you can actually get a tenant in there, that (should) shore up your defense on that question ever coming up unless you are playing weird games just to get a given in service date for tax purposes.

Let us know how this plays out!  

Unsure how market will play out with elections. 

Play stupid games, win stupid prizes.

My wife and I do have a fairly modest lifestyle.