It’s a fair point—housing construction has lagged for years—but does that excuse using tech to potentially exploit renters?

I've got plenty of experience in both site built and mod construction. 

To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

Basically all up and down the mid west markets.but you get to other areas of the country were used houses sell for more than New construction  and there are low inventories etc.. and trying to talk someone into a lease with the option to buy  is much tougher to a basic non starter..

Unfortunately, more mobile home parks are redeveloped into a higher-and-better use every year than are newly constructed.

Quote from @Dennis Bragg: Alan, I’ve got to say, taking on a major construction project like this in Ardmore is a bold move, and I admire the ambition.

Also, construction is in all time low, so that factors into the need for rental properties. 

The provider I am using allows for 60 days of continued coverage once construction. 

The vast majority of new construction, especially in Denver metro and the surrounding communities, has been multifamily and townhomes.

@Martti Eckert in our opinion, you'll need to be really familiar with construction, including costs, or be able to find somoen on the ground you can REALLY trust (but still verify).