There are some solid advantages here: new construction typically means lower maintenance costs upfront, modern amenities that attract quality tenants, and potentially higher rental income.

None of these things made me a better investor, or I should say gave me an edge that I could not have gotten otherwise.Buying a house and renting it out is not rocket science, despite what some gurus will tray to make you think.

The quality of modern lumber is simply far inferior to the quality of lumber they were using to build homes in the early and mid-20th century.

Complicated rooflines, modern details that require a bunch of steel framing, excessively large great rooms, spa-like bathrooms, etc would push you into the $1,000-2,000 range.  

If you can get a property with a more modern floorplan at a similar price I would go for that.

But the trick to a budget is making sure it satisfies your needs so you can stick to it - like they say about some diets - compliance is the science . 

The demographics of these investors are typically high income earners, almost 90% working in tech (software engineering, tech sales, computer science, etc).

An existing kitchen layout might work well for adding a dishwsher or microwave hood for example allowing it to be made functionally modern without a major rehab.

I went to school at Ohio State for engineering and have a minor in business and computer science.

RE isn’t rocket science.