Same principle for rents.You posted this under land and new construction.

Understanding the power behind real estate investing has changed my life / career dreams.Sold a 2yr old new construction home in Westmont IL...

I also own lots in the Sevierville/Smoky Mountains area and am looking to start construction on those soon.

Background: My mother was real estate agent and my dad knew construction so we flipped just about every house I ever lived in.

Phase #1 - Recovery  - characterized by high vacancy rates and no new construction- rent, during this phase, is flat or declining- owners offer rent concessions to avoid their property occupancy rate from  decliningPhase #2 - Expansions- characterized by declining vacancy and the start of new construction- occupancy improves, concessions are not being offered, and rental rates being to growPhase #3 - Hyper Supply - characterized by new construction and vacancy rates beginning to rise - rental rates begin to grow at a slow rate- rent concession are being offerred due to the new construction in the area [in the hope of retaining current renters]Phase #4 - Recession - characterized by the completion of construction and a decline in occupancy rates - concessions are abundant to avoid high move-out rates Here are some foundational truths about optimizing your investments:#1 sow seeds of success in the down times - "The season of failure is the best time for sowing seeds of success."

New construction has a very different risk profile from buying existing properties and fixing them up. 

I do have an accounting department that handles the payables.  3.Consider a Maintenance/Construction Division (When the Time Is Right): Margins in PM are thin, but bringing maintenance in-house can be a strong revenue stream.

I was able to get a construction loan to renovate.

I actually interned for a company in Iowa City that did real estate, property management, new home construction and development.

I'm piloting a new construction program that's building a generational style home 6 bedroom 4 bathroom, 2500 sq ft house in a class B/C area.