Quote from @Shelan Davis: I have house under construction in Cape Coral with Whitestone Developments.

Ongoing construction projects valued between $26 billion and $30 billion fuel employment opportunities.

@Blake Kirby the new construction is mostly SFHs on the far outskirts, or "luxury" apartments and/or condos as infill projects.

As for seeing more DOS invoked I dont work directly with those doing sub too in my day to day.. we are selling brand new construction and doing JV deals with flippers there is no debt to take sub to and sales are all cash to us.

But there is a lot of new construction and rehabs.  

Depending on the construction, you have to do major upgrades on electric, plan for plumbing for apartments which may not be permitted in the area for the sewer or septic.

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

For example, you can buy 5 new construction homes at great price points in my market that would be perfect for this strategy.

I love new construction for that very reason.

They built with vinyl siding in GA up into the 90's but you hardly ever see it anymore on new construction.