When new to investing we tend to focus almost exclusively on profit potential with almost no consideration of risk.  

A really filthy appliance or bathroom can extend the time it takes to clean considerably.

The strategy you're referring to could work in principle, but there are a few important considerations.

Heights I don't think you'll find under 350k unless its a fixer upper

I would suspect that rents will go up considerably in Los Angeles over the next five years.

Seminole Heights in Tampa and Old Northeast in St.

@Tim MelinPro - didn't take into consideration personal income or debt.Con - stiff prepayment penalties that are typically a 5-yr step down and the rates have gone up considerably in the last two months making them a poor option at the moment if you believe rates will go down in the next year or two.

I'm new to owning rentals, I have 2 duplexes (Newburgh Heights and Shaker Heights)I had a very good relationship with my property manager until recently.

Sell home on MLSMy logic is that that price at which I will construct the home will be considerably less than the price at which I will sell, thereby giving me nice profit margin .

After careful consideration, I’ve decided to focus on the Houston market for my first deal.I’m seeking advice, networking opportunities, and connections through real estate meetups, seminars, workshops, and events.