The best thing about a new build is the capital expenses and maintenance and repairs will be minimal for many years.  

For flips, calculate the after-repair value (ARV) and subtract purchase, rehab, holding, and selling costs.Pay attention to location, rental demand, and the property’s condition.

Alexandria, VA is a great spot for house hacking!

We're working with a new construction builder who has an in-house lender (Austin, Texas area).

A recent study showed that 80 people are moving to this city every single week, which will continue to increase housing demand. 

Try to arrange for an “open house” day for buyers to walk through with contractors and eliminate inspection problems/delays. 

The Property Manager usually does light cleaning and repairs between tenants.Recommendations or another way to think about this? 

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

Given your buy box, keep an eye out for properties with strong rental demand and minimal major repairs.

I own 27 properties in Greater New Orleans (36 doors) and wholesale around 50 houses a year in this market.