What can we realistically expect from a builder in terms of closing cost assistance and/or rate buy-down I would never buy a new build at full price and count on zero cash flow. there was a guy who bought one and it doesn't cash flow and he's counting on appreciation. you should at least look at multifamily and in addition look at building your own.

Feel free to DM me if you have any additional questions. 

Additionally, considering the average cap rate in the area could give you a better idea of whether this property is a good investment compared to others in the same area.

Additionally, I agree that joining networking groups is helpful.

Additionally, are there any markets that are particularly friendly for new investors?

That being said, if you have 20 properties you want to see it might be nice to send them a gas card (broker permitting) in addition to their commission.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Something we are currently cautious of is since this would be our first tenant, we are taking on an additional amount of risk due to credit & background would be unknown.

You have to buy at deep enough discount to add value.

Let me know if you have additional questions.