If it's trending up or down, what kind of people (white collar, blue collar) are moving in versus are moving out and if this has led to either a general trend up or trend down. 

A typical 6 over 1 colonial style sash set runs in the $550-650 range plus install, which is an entirely different skill set than drop in vinyls.

Pensacola is significantly larger and older, Pensacola has a wider variety of construction styles and more multi family available.  

Builder should have: Proper license with state of michiganDone recent project of similar kind in terms of square footage, style, location and price rangeTime availability to manage the project full timeShown experience finishing on time line you are looking forRisk policyGood handle of cost and contractor crew to work withThere are few other items, you can learn and tweak.

McMansions are part of a waning trend; may not be as many interested parties which could keep resale at a lower price or a longer sales cycle.  

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See the trend turn before you do.5.

From that perspective, we actually got really lucky with one of the best lots, if not my favorite style of house (we have a tri-level).My first investment house was not my first choice, and it had lots of issues.

"Approved housing" which represents approximately 70% of the market, traditional housing (locally referred to as community housing or family housing) which represents approximately 25% of the market, and unapproved roommate-style housing which I would guess to be around less than 5%.

Saving money is more of a life style then a goal in terms of an amount to begin real estate investing.