@Sindy Zheng I know that this isn't a book, but adventures in CRE is an amazing website with an expansive library of educational material regarding underwriting and modeling.Also if you have any specific questions I would be happy to reach out!

There are numerous methods and ideas on how to go about the actual letter which I recommend watching/listening to some BP material to see what works for you.

Tough ****.

As for first-time investing, it's tough to find deals out there right now but still possible if you think creatively and have some money to actually work with.

It's tough, but gotta pull that plug soon as you know they're a problem. 

Check out BP's David Greene and Anson Young for quality materials.

Areas like LA and NY will have higher materials and labor costs compared to places like NC or TN.You may be ghearing $350 pSF and that may be accurate for new construction here in LA, but likely for homes around or under 1,000 sf.

You can really tell a story, lol.Maybe this is why I'm so skeptical about ra-ra and easy answers to extremely tough questions we get here in the forums.

Great for investors, he charges for labor and you pay/supply the material.

New construction is expensive with labor and materials costs at a peak.Where are the opportunities these days?