Once you are established, you don't want to be known for being the most economical, you want to be the best place to have a vacation.At that point, low rates will start to bring in people that won't necessarily take good care of your property. 

Today lot's of new development activity by the big guys willing to pay more for speed and continual work.If your state doesn't have much growth and activity going on then not as affected.A friend of mine is doing a ten acre retail and medical project in another state.

There data is rather well established, it is going to take years, many years, to catch up on the housing shortage and ramp up construction to parity (where pace of building meets demand at a net 0 factor).

Most renters are medical staff who work for local hospitals.I have spent the last year remodeling the entire interior.

Some cons are higher costs, as @Mohammed Rahman mentioned, lack of established rental history (it might be harder to price accurately), and sometimes higher competition depending on how saturated your local area is with new construction.

You sent someone over and established that the house is the temperature that is set on the thermostat and the furnace is functional?   

Who here is local to the Raleigh, NC market and has done a good job of establishing automations in their real estate business?

Established an LLC as the property management company for the property.

As a recent medical school grad about to start as a resident physician in July, really interested to hear if anyone else got started in real estate investing as a physician or healthcare professional.

I was laser focused on the development business, which undoubtedly shaped me into who I am today.Nowadays I have the experience and confidence to expand into other niche's (I've recently bought and sold a couple of medical condos for example).