We have 6 new construction duplex units that will be available to rent starting in September. 

Brian, I'm a seasoned designer with tremendous construction experience as well. 

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

From an historical perspective, May vacancy rate is 3.0 percentage points higher than the 15.4% average recorded since the beginning of Q2 2014.OutlookReis is tracking office construction activity that will deliver 1.2 million square feet to the metro by the end of the year, and net total absorption will be positive 640,000 square feet.

I completely agree with the other answers that getting someone to help you is a good bet, having someone in your corner who understands the intricacies of the tax code rather than DIYing that should save you more money (and time) than you're paying them ever since I got my first rental I've had a pro doing my taxes but kuddos to you for being able to juggle so much for so long on your own!! 

Your best bet is to take a 12-36 month STEPDOWN prepayment penalty. 

You'll find a lot of members spent a year or two immersing themselves in all things real estate while stockpiling cash, prior to actually making that first "all-in" bet, that real estate often, by it's nature, is for first-time investors.Hope that helps!

Also recognize that construction costs will be 2-3x more expensive in this area than they were in Pittsburgh so be careful and make sure to understand pricing before going into a rehab. 

I'm in the process of making an equity deal for my first ground up construction project now with an investor. 

Trying to compete against a builder to sell your existing build is extremely difficult.If there is new construction similar to yours around what you're selling you'll be at a disadvantage unless the market is scorching hot again and the builders have waitlists like they did in the recent past.Let me know if you have any other questions or need help in those areas.