It goes to your preference, of course, but whichever can produce the greatest ROI should be considered.There are many markets in Michigan, for example, where it is cheaper to buy an existing house and fix it up than it is to build new.That may not be the case where you are at or through the construction suppliers and contractors you may have access to.To Your Success!

I recommend having a contractor walk through the property before submitting your offer, or you could make your offer contingent on a contractor walkthrough.

The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Classand Tenant Class affect what type of contractors, handymen and property management companies will work on a property.If you buy & renovate a property in Class D area to Class A standards, what Tenant Class will rent it?

•Contractors (especially if you plan to add value).

Do you have property managers and contractors who your clients have been using for over a year successfully?

Just a brief rundown on my situation. I currently own a commercial general contacting company. We have built a few custom homes, however new construction residential isn’t our primary source of revenue. We have been i...

The property was occupied (still is) with 1 tenant that I am now having the exhausting pleasure of evicting. 2yrs later, said tenant continues to try every angle to delay the court granted Marshall’s execution.The “2nd” floor was poorly renovated (bad contractors), new tenant moved in and a year later, another eviction process has started as they lost their job and refuse to move or pay.Stuck with a very large mortgage bill (that I am paying), utilities and making small repairs to keep the property up also noting the casual 311 complaints from both tenants. 

Personally, I would never invest in a place I didn't even visit and also meet/interview the people who would be involved (agent, manager, contractor, etc.)

With a limited number of qualified contractors available, additional demand will drive up prices and extend project timelines.

Also, I found 2 ideologies regarding such development projects: Use one GC for the entire development or use that GC only for crucial trades such as foundation, framing, roofing , external siding, etc. and use sub contractors for finish and interior work to reduce cost.