I am with Bill above and with the shift from having to live in cities with work from home trends, we are finding land ahead of the city growth to buy land to develop into large and small lots. 

With high interest rates and the market trending down I would look around.

Not a hard rule for all areas, but a general trend. 

That will at least give you a ballpark, but there are other variables, such as financial trends that can lower that ceiling, as they do want you to pay it back.

@Kevin Purvis Multigenerational housing trend is booming!

@Victor Kyi - In my opinion the reduction of risk investment wise comes in the quality of the asset (which in new construction means it will be in a good shape for a little while) and second in your ability to predict the cash flow based on what it would currently go for.

Look for a place that is in good shape and would rent well. 

By identifying trends like this and analyzing historical information (ie how neighborhoods change in the past) can lead to some pretty well-placed investments. 

But a lot of these properties built in e 40s are in really bad shape, and there are a ton of empty lots.

Our north Idaho lakehouse did gangbuster business in 2020. 2021 is shaping up to be even better.