You can spend hundreds of thousands on large developments that you never buy.

I assumed incorrectly as it's been made clear buyers here want a fully finished product to just move into. 

It's part of the cleaning cost.We also buy TP in bulk at Sam's club and put out plenty so that our guests don't have to bring any. 

You are asking about markets where you can Buy, Rehab, Rent out, Refinance, and Repeat (BRRRR Method) where you can buy 70% of After Repair Value and under $150,000 with good cashflow.This is my favorite strategy as well.There are several markets in Michigan where you can do this but the market I prefer is Lansing, MI.It is the State capitol, there is always a lot of economic development as a result which creates jobs and demand for housing which keeps rents up and appreciation steady.To Your Success! 

I think the insurance rates in Houston may be a bit of a challenge now as a buy and hold investor.

I am living in CDMX right now and has been looking yo buy in the Condessa /Roma Norte area.

Yes, currently there are new builds going for 30k off, with builder buying down points, and covering a portion of closing costs.

When rates inevitably go down, prices will go up so people buying now will be able refi thus increasing cashflow while also getting appreciation.

Maybe I’ll pull equity out of them in 5-10 years and buy more if I’m bored.

I assume you are referring to 3.5% and 5% down,Well the 96.5% LTV FHA Product is great, it typically offers more competitive rates than the 95% LTV Conventional product.However there are stricter requirements on the property for an FHA product.Speak with a broker who knows what they are doing and they will point you in the right direction.Neither of these products will qualify for 5+ Units however, stick to 1-4 units.