Not only did I waste that $30k and then another $40k on mailers - their "team" doesn't know their elbow from their you know what and cost me several deals because of their shoddy advice and due diligence. 

I don’t have a crystal ball and neither does anyone else, so we don’t know where rates or home prices will be exactly.

Quote from @Cameron Daste: To be clear, I'm thinking I would do the above for several years while building my portfolio and learning, and then solely focus on my portfolio once I'm established and am generating enough income to live off of.Hi Cameron, You don't know until you try.

You should know the answer.

They manage hundreds of units there and know the ins and outs of the whole area.

Let me know if you have any questions.

every person who builds a house or a commercial building has to do so with 25% equity to get it financed with a bank. there is absolutely value in new construction. the hard part becomes making sure your architect knows how to design a building that can make money. but saying you don't know how to is a little silly it's the same idea as existing but ground up you just study the market and look at land more than you do anything else. you can build a house anywhere but you want to do it in better areas. it's either than or higher density's smaller floorplans, etc 

i didn't know that. 1 year with no cash flow isn't something i'm interested in.

Please let me know the good, bad, and the ugly.

I personally would never invest money in an area that I didn't know, with people I didn't know, in a business I knew nothing about.