@Blake Kirby the new construction is mostly SFHs on the far outskirts, or "luxury" apartments and/or condos as infill projects.

I had a STR in another market get shut down by zoning, so I put construction workers in there on a 30+day stay over the summer and now have a MTR tenant to keep the lights on through May after which I'll sell since I have no guarantee on having another 30+day contract next summer.

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

I love new construction for that very reason.

I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units. 

Are you doing new construction in Chicago as well or just KC?

In Jersey City rent control only applies to older building that are 5 units or more not new construction.

What @Nathan Gesner said ^^^^ plus....do you have other construction skills like plumbing/electrical/tile/etc?

Depending on the construction, you have to do major upgrades on electric, plan for plumbing for apartments which may not be permitted in the area for the sewer or septic.

Quote from @Clint Miller: Anyone here in the community used construction loans to scale their development projects?