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.

For instance in the real world.. i bought 12 brand new constructions back in the Katrina days .. this was in the top county in Mississippi they ranged 150k to 225k each..

They build on site.One thing you mention is construction costs. 

For example, you can buy 5 new construction homes at great price points in my market that would be perfect for this strategy.

It may be due to the lengthy pool permitting and construction process. 2025 will be a critical year.

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

Outside of my one renovation, I didn't know that much about construction - I've learned a lot in the last 2 years. 

Can anyone recommend a company that offers a builders risk policy to cover the construction period but then will also allow a cancellation and refund after work is finished to convert into a standard landlord policy.  

Your background as a licensed architect with experience in commercial and residential projects is an incredible asset, especially here where so many members are navigating construction, renovations, and design challenges.Out of curiosity, have you worked on any projects that were particularly challenging or rewarding?

Somethings it even more expensive than buying a new construction in a class A neighborhood.The turnkey investments are not always the best option for every investor especially if you are just getting started and low on cash or you don't have reserve/emergency funds to deal with issues like maintenance and vacancies.