Hubris is a killer, and has no place in investing of any kind IMHO.

The condo is amazing with a killer view of downtown San Diego and will continue to gain equity IMHO, plus he's positive cashflow on the rental.

I just want my first deal to be a killer one.

We invested every cent and second we had into our real estate company and have positioned ourselves now to have a killer next few years.

(welcome to FL, COA dues are killer)

Third unit delivered vacantMortgage, Insurance, Taxes: $2850 (4.25% rate on conventional 30 year)Down Payment: $150k (Was considering FHA, but since the property price tag is quite high, the monthly MI premiums would have been killer)Rental Income: $26,400Based on these numbers, is this a viable option for me?

But I'm always looking for a killer deal and can buy if one presets itself.

They are perfect for the starter homes that Habitat builds but would be of no interest to a typical for profit builder.I am not familiar with specific permitting costs and government fees for a new build but I know the costs in and of themselves are not a deal killer. 

And even if you find a good one on the MLS thats an REO at a killer deal....Guess what...They more than likely asking you to pay all the citations or HOA fees that are due on it lol.

When I bought my property in 2013 I could go lower than 25% but then PMI comes into play and that can be a deal killer.