Yes ,the new build may be more a spec home play than rental... targeting some existing homes in the area may be better angles.  

You would also still have almost no equity in the house.Anyway, I could keep playing with numbers, but you get the point.

Is it time to start really leveling the playing field?

Yes, maybe you can buy (1) or (2) in your local market, but, if you can get some high quality turnkey or investment assets in alternate out of state markets where you can purchase  2-4, 6-12 etc. assets, you have what should be a safer play.

In order to play his guitar, the man would unplug the bedside alarm clock and plug in his guitar.

I think everywhere has it's bonuses right now.

They play ball. 

If the economy is solid perhaps the supply and demand fundamentals come into play strongest.

They are usually done by a block method using square feet, they don't have time to look at each property so if you bet on that value, you'll be wrong, it's apples and oranges.If you don't know what value is based on and the 3 approaches used, you're not even in real estate, you might be playing some guru game playing house like a 5 year old girl, just trying to play with bigger houses.

Well played, Mr.