lol and could take longer period of time to complete) with fixer/turnkey older homes: (which you probably know already) con: - had to worry about HVAC, water heater unit being old and not replaced yet - if it was somewhat fixed already - dealing with potential short cut work from previous contractors - find any unforeseen issues that you'd have to have trustworthy people in place to find out for you (with your due diligence in place)- could have issues after purchase when you try to do your rehab Pro: obviously even with those issues above, there "could" be more ROI in place when its done.New construction: con: - not much addition to do to add more value to your home - Hoa fees could be higher - because newer neighbors use CPM (community property manager) in the beginning - Need to know if the neighbor has a cap of rental properties before purchase, and need to purchase quickPro: - like you mentioned, less capex and maintenance - potentially find a tenant faster - most of the things in the house has warranty up to 5 years Also, if you do end up buying new build, look around the area to see if there are more new constructions going up, it could indicate that population in the area is growing and the area is in demand. 

Cash buyers will be afraid to catch a falling knife until it goes below replacement value.

What about vehicles, that year old Silvarado can easily be replaced with a 15 year old Honda Civic, and use less gas too with lower insurance. 

Ten minutes ago some of our brand new inherited tenants left here with a pickup truck containing a bunk bed set (and four twin mattresses total), a dresser, a new burner pan for their range and a toilet flush handle so they can replace the shoestring they're using to pull up the flapper.

I am looking to replace the cast iron drain pipe with a PVC scheduled 40 4" pipe.

This was a higher end flip with nice hardwoods (we were able to save most of what was there) and them replace the dining and kitchen room areas since a tree had fallen into the house at one point in time while the house was vacant.You will see this house is really beautiful and its a 2 bed 1 bath with NO garage and rents now for $950 per month.

I have a replacement cost policy. 

It has a good sized and high-ceilinged basement which we replaced the windows, moved the washer and dryer area and added a bathroom.

Another option is to negotiate some sort of rent guarantee by the seller for a specific amount of time post closing that allows you to have a runway to replace a tenant or two if needed that first year.

Hi Justin,I think what some perceive as "Extra Money" being injected into the economy is really going to be "Replacement Money" for foregone wages from the Virus Situation.Here's how I think of it (three illustrations):Begging Hobo Bob.