They are hands-off, institutional grade real estate investments, and they allow you the option to diversify.

Grade A cow mud paddies!!

On top of all this - i grew up in Amarillo - arrived at age 7, had i stayed thru high school (left in 7th grade) i would have gone to Palo Duro HS!

I have never seen them high grade the inventory as you allude to.IE keep the best sell the rest..

@Timothy DoengesShort answer...depends.Long answer...really depends.It depends on location, builder, debt/capital stack, absorption, build-out (construction type, materials, etc), lot impedance (watershed, topo/grading, utilities, etc), jurisdiction (entitlements, zoning, etc).

Perhaps some caulk on the exterior, gutter splash blocks, adjusting the grade a bit or whatever.

In Tucson, I got 3 quotes that seemed high for a mini-split install; all over $5k for mid-grade systems.

Also ask for builder grade stuff. 

For the record, I do not recommend living in a slab on grade house while a major foundation repair is going on.

I love your guide on grading neighborhoods in Birmingham, it has been very useful for me these last few months.