A travel nurse or relo'ing resident, student/intern can't rent from you if your calendar has a night or two locked up in the middle of their desired stay.

Up front just learn how to calculate numbers on a basic level and then pull the trigger. 99% of people I talk to don't actually internalize the lessons they read anyway until they make the mistakes in person and the see why someone said what they said. 4.

Keep in mind @Mario Morales that they take premiums, invest them so there is a profit component on invested returns, and hence amplifies how far the $ can spread on payouts. less than stellar returns and expanding claims, yes, rising premiums is a certainty. 

We'll still look at a multifmaily deal here and there, particularly if there's a retail component, but not currently our main focus.

Around here, for 1-2 unit residences most cities use International Residential Code. 

Construction can have unforseen costs, construction loans for rounds of funding can be more expensive over time, rent markets can drop, vacancies in market can increase.Typically entitlement phase of land most risk, followed by development, followed by vacant building turn around, followed by half vacant building, followed by mainly full building with value add component, followed by brand new building with market or below in place rents and everything new with good location.Along that spectrum of course you go from heavy equity upside potential to mainly just the cash flow return and hopefully price appreciation over time.Investors have to decide on the spectrum of their risk assessment to capital over what period of time how they will allocate between all one type of investment or multiple and what percentages.

I'd recommend working with a trusted real estate agent who has experience with out-of-state or international buyers, along with a reliable property manager to oversee your investment.

They value how it is to live in a home over the infrastructure and mechanical components.

But, that being said, there are the numbers on paper and then there's the psychological component.... the human behavior component. 

I like to look at each component of the process on an itemized level first so that when I do work with a developer I can have my own reference for all the bundled costs associated with the build proposal.