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

You need to get in contact with a Luxury RE Agent and high quality PM.

You can buy a luxury home in Florida for example for $1M to $1.5M bigger than a $2.5M home in CA.They make Hurricane Proof homes now so its not that bad if you plan a ahead.  

On the other hand, giving one of the bedrooms its own private outdoor escape might appeal to a buyer looking for a luxury retreat.

I am in the Charlotte market and surrounding, and I do everything from luxury $950k-$2MM to starter homes from $250k to $300k and townhome sites.

When you're first getting started, you may not have the luxury of limiting your exposure in any one real estate investment to 1% of your total net worth.

However, your unfortunate ultra conservative approach may work, but it won't work for all.

The Smokies are a favorite of mine, but beware it is an ultra competitive market. 

The peer to peer lending platforms as well as the real estate crowdfunding platforms are not having their investments chosen by Warren Buffet, or for that matter any money/investment manager employed by the big pension funds, endowments or ultra wealthy individuals that RDPD is always alluding to.  

Yes, our local agent was Olga NarvaezRonival Luxury Homes52 477 350 6941