every person who builds a house or a commercial building has to do so with 25% equity to get it financed with a bank. there is absolutely value in new construction. the hard part becomes making sure your architect knows how to design a building that can make money. but saying you don't know how to is a little silly it's the same idea as existing but ground up you just study the market and look at land more than you do anything else. you can build a house anywhere but you want to do it in better areas. it's either than or higher density's smaller floorplans, etc 

@Clare CuiI would requalify her - meaning have her provide you with unemployment amounts, how long she is able to collect and also how much $ she has in bank just like I would do for a new tenant

Whatever that lender's requirement is, that is what they will require2) If you want the best favorable terms, apply to 3-6 companies - make sure you have a mix of mortgage broker, local credit union, and a mortgage bank.

Also, connect with other like-minded people in your community and attend as many in person meetings at your local REIA groups to network and connect + find out about off market deals and get on local wholesalers "buyers lists".Best of luck!

We use Rentec Direct and really love it.It collects our rent, applies late fees, deposits our rents in our bank account, tracks expenses, screens our tenants, markets our properties, generates forms we can send out for docusigning by our tenants, tracks leases, and much more.  

If commercial properties, you can seek loans from small local credit unions and banks that base it off of the debt service coverage ratio and regularly provide loans in the 7s.You can also seek commercial loans on residential properties as well.

Mason welcome to biggerpockets I also went to UW-WSuggestion for the next 10 years , if possible purchase four plex , duplex , triplex, last resort sfr for house hacking ( no immediate cash flow )Rinse and repeat until your personal lives change ( family, relationship, etc )Each state you purchase property :Develop a decent team to handle your investment properties while you enjoy your fishing/etc

Personally, I would wait unless you are dying to get in and renovate.

I personally do not think you can go wrong in any part of South Florida as long as the numbers work. 

What I'd look for is whether the bank/seller will consider any repairs whatsoever.