New construction is sparse and only high-end homes. 

Especially if you cant 1031 and you have to pay recapture.Even with new construction this has to be taken into account..

., constructive receipt doctrine, effective control over nominal 3rd party relationships, lack of genuine risk bearing and compliance with transactional terms, etc.).

I was thinking I would give them like 90 days notice w the option to stay for a temporary rent reduction through construction phase. 

Quote from @Donald Hatter: I would vote for buying a new construction home.  

It is a new construction home in an up and coming area.

Piggybacking off Peter's number 1 point- get the design team (architect and engineer) engaged as early as possible and let them get construction documents/drawings going as soon as you're sure of the deal going through.

We do ground up construction of 3-4 units in the urban core of Columbus for investors all over the country. 

New construction homes are typically around 600k here and picked up maybe 25% in the same time.

My focus is on providing tailored funding solutions for investors like you, whether it’s for Fix & Flip, Fix & Hold, or even larger-scale projects like new construction.