We both work in construction, so we are familiar with rehabs and have contractors that we trust (I know this is usually an issue for people), and want to either rehab a home and flip it, or rehab a home and rent it for a while until we can sell it.Any advice or where to look for these homes?

Here is where I started really learn construction from plumbing to electrical to framing to drywalling etc.

MUCH MORE CONSTRUCTION..

Purchase price: $165,000 Cash invested: $5,000 Almost completed New Construction single family rental.

I currently have about 10k in the bank remaining and adding to that account slowly from my wife's job and rental income.I started to apply to jobs as an assistant construction manager and now considering starting a company to do property management.

I also noticed that the front/back porch and enclosed garage were appraised at $29sq/ft ( considering everything was build as a part of the house by the same construction builder it doesn’t make sense to me) Also: my house was built in 2010 and comparables were 2009-2013 range!

I work as a construction manager for a GC and we typically do 25-30 million in work annually.

But other than a lack of knowledge of how to properly construct a buyer broker relationship that protects both parties, he really hasn't done anything scammy. 

lots of new construction in the area. houses going up left and right. should I buy a new construct or look for an old duplex or condo to rent out?

Look for 16% Cap Rate deals or better...the last deal I did started off as a 22% cap rate ended up being 14% after construction overruns, but I think they are still happy with 14% cap rate, and we refinanced all their cash out of the deal so end of day no one has personal cash in this deal.On a personal note you might not want to "lay in bed" with anyone you don't know ;)