We manage a bunch of ADU’s and higher density new builds for investors in Raleigh and Durham.

I would recommend calling the city building dept, they are easy to get in touch with and a lot more helpful than other municipalities in the area.

Like SWFLA  new builds  at the time I was buying for 25 to 35k at courhouse and Atlanta until the hedge funds came in and kicked us little guys to the curb. !!

We've been continuously improving it, but it has been working exceptionally well for us since we hired a developer for the complete build-out a year ago.

New builds, new developments, plenty of rentals within driving distance of the city center, and there are still plenty of areas where a good eye for a rehab job will get you a good ROI.

Please feel free to reach out to me and my team if you would like to come up with a game plan and build your buy box. 

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

The #1 determinant is the Tenant Pool.If you don't believe us, try putting several Class D tenants in Class A apartment buildings and watch what happens.

FL seems to have reigned in HOAs recently, so who knows what they are allowed to do.I know that in CA, an HOA can ban smoking in units because smoking is not a protected class and the HOA has an interest in the safety & health of the building. 

The only way to know if your idea is worth doing from a wealth building standpoint is to do the math:  What is the cost to acquire?