I am living on the SE side which is ultra-competitive currently.

I have been doing some new construction stuff in Ohio, and I'm curious to see how our costs compare to others. 

Your cost of living sucks in NYC so that hurts as well.You say you want financial freedom, but what you really want is time freedom and the only way to get time freedom is through earning money to give you that.

I live In New York so I feel the competition would kill since I’m new to this whole thing.

It’s also prudent to review and update your properties' safety measures, such as installing fire alarms and security systems, as these can sometimes help reduce insurance costs.

Or are holes after move-out just part of the cost of doing business?

My first question is that can I do a cost seg next year, when she qualifies for REPS (as she doesn’t qualify now), and use that depreciation for my W2 income in the second year of us renting the property?

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!

There are initial and annual costs involved, and you have to sign up with a brokerage. 

Read about finding off market deals and marketing to them; read about making offers and estimating rehab costs; read about building a buyers list; read about the analytics of a good rental property of flip property.