Since you have capital to deploy, you might also consider small multifamily to scale faster, developer partnerships for pre-construction appreciation, or even international markets like Portugal or Dubai, which offer strong appreciation potential and investor-friendly policies.

Get a bank statement to cross-reference their paychecks as most employers now direct deposit.You'll also see if they have a savings history or are living paycheck-to-paycheck.If they are not paying rent right now and have no savings, how well do you think they'll be able to adjust their budget, so they can pay rent on time?

They will not finance new construction correct? 

The influx of tech jobs, manufacturing, mining, and Californians there is a strong population and combined with limited to no multifamily new construction we expect a severe housing shortage.

I made adjustments, and it paid off when I found great tenants for the third-floor unit.Improvements Add Up: From installing a shared washer and dryer to renovating my unit’s kitchen, every improvement added value to the property and increased its appeal.Stay Financially Savvy: Refinancing my mortgage and renting out the garage spaces were big wins that helped offset costs and improve cash flow.Expect the Unexpected: Maintenance surprises (like a flooded toilet or diagnosing strange sewer smells) are part of the journey.

Could be less on newer construction but you’ll pay more for the property.  

There has been a ton of new construction for housing the past 4 years and that’s why vacancy rates are 10-12% and rental rates have dropped the past couple of years. 

Keep your day job.Fortunately, this is my 2nd business and my primary business is small construction company. 

That's why they keep having to adjust the clocks with leap year and at other times as well because these rules of thumb are not perfectly accurate.

IE its common in so many areas that the 500k home in Wis sits on a 75k or 100k lot and 300 to 400k is the cost to construct say at 150 to 200 a foot..