I've seen along I-20 (between Atlanta and Birmingham), or along I-65 (between Birmingham and Huntsville), areas like Oxford, Lincoln, Pell City, Cullman etc,  there are some new builds 3bd/2ba for around 200k - 220k range, rent for about 1.5k, for a buy-hold strategy, I feel comfortable as long as it has a positive cashflow (with 25% down). 

The Rise of Mid-Term Rentals:Mid-term rentals, which typically range from one to six months, are gaining traction for several compelling reasons.

I ran into a new build in Mooresville that is within my price range ($329k). 

However, my investable funds range between $100,000 and $150,000.

It's on the far NW side and has inventory in that price range, but consider that taxes are relatively high in Elgin VS most suburbs.   

All thibgs being equal,, no agent can get you an additional $100k if comps are in the $550k range.  

@Ronnie C.what price range are you finding the new constructions are sitting on market that long? 

im not seeing very cheap land in utah to build a 4plex in a city rn, its in the 400k range for a lot, and then it would sell for 1 million

In many cases you get what you pay for...but not with agents, as pricing tends to group in a narrow range. 

For example, I had a house hacking investor buy a condo for $499K, put $60K into it, and it is work somewhere in the low $600K range.