If you don't have construction experience, I wouldn't start flipping.

At the current cost to build estimate $150/sqft, It appears a 1500-1700 sqft new construction will need to sale for around 399,9k to make a decent profit.

Quote from @Simon Walker: Hi Guys, new here to the bigger pockets forum, I have been in construction for 11 years and real estate the past 3 years.

I filled out their survey and provided some constructive feedback, even though I don't own a STR here.

-Why not include a contingency line item in your construction loan rather than raise the contingency funds from your equity partners?

Hey @Camille Romero - fellow NY'r here that started investing a few years ago, I was in your same shoes when I first started after working in tech/software and having a nice nest egg built up. 

If you decide to go the multifamily route, Real Estate lab .com is a multifamily software for deal analysis plus they have many other useful features. 

Some syndicators have so many fees (acquisition, construction management, asset management, capital event, disposition) the syndicator is going to get rich even if the deal produces zero return for its investors.

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

these are construction loans