I like that new builds don't require a lot of maintenance (although we had to put in a yard which was more than I expected).

He intends to use part of it as a down payment for his primary residence, but he wants to use the rest to build something bigger.

Are you looking to flip the land to developers or build new constructions on them?

Hi all, I'm new to the forums and open to feedback/advice on building/investing in Western NC.Some background on me, I've Lived-In rehabbed and made decent returns on 8 houses (lost most of it in a old divorce so in the middle of a restart to try to actually retire in the next 10-15 yrs).

We purchased a new build home in San Antonio last year.

If the Minnesota market has duplexes or 2-4 multi-family units, this could be a great way to get started.If you already own a home, then I would say to do some research on the top places around the country to invest in and build a team and a network of experts in that area. 

I think Chicago has a lot of houses in the surrounding neighborhoods of downtown that are up-down duplex, so a building can be 4 stories high with each unit having 2 stories.

But I want to cash flow more somehow in thousands  not sure on your capital funding for Miami but if you have the capital and backing I'd look at development for STR towers in the 50-100 unit range. you can get lots around 1.2 million that you can go 12 stories on with structured parking in Wynwood right now that you can build a 15 million dollar asset worth 30 million. you can do the condo exit or hold it as apartments and permit short term rentals. there are some great articles about short term rental occupancy. miami has 22 renters for every 1 available apartment and has the #1 net migrations in the state of florida for cities and florida is the #1 net migration state. it is land locked and developer friendly. it's under built.

Then once you build up a general knowledge base and understand your exact strategy and the inventory available in your market then you can ask more specific questions to help you along the way.

Depending on your goals you may want to consider purchasing another property here and building up on what you have already started.Some things to note...an $800,000 property and a $100,000 property roof replacement will cost approximately the same 10-15k range...in a market where historic appreciation (not just the 5-10 years) is little to none, spending 15% of a properties value to replace a roof which doesn't add any value takes away many years of future cashflow.