As long as you live in the property for one year, it qualifies for a primary mortgage, meaning you can buy a house—often at 5% down—rehab it over a 12-month period, and repeat that once a year.You tend to get better interest rates buying houses that way, and you tend to acquire better rental properties, because you care about where you live, so you focus on higher-quality neighborhoods.It's my favorite strategy!

Well first I need quality legal counsel.

Some will give you low bids, but their quality sucks, some viseversa.

It's going to increase the number of arbitrage units, which I think decreases the quality of the product.

All depending on the lot you are building on, and quality of finishes.The best way to determine the cost of new construction in your exact area is just talk to a few local builders.

Do you usually suggest getting the more expensive quality product or something a little bit more in between?

I'm honestly not a huge fan unless you do an A+ job on quality.

You can hold a contractor liable for timeline and quality of work 

Colorado springs is less expensive than Denver and has a high amount of military personel, so typically tennants are higher quality and there is a constant flow of them.

Any market that you're interested in, there should be a quality provider in that area that you will need to vet so you can be confident about your goals being met.As far as PM goes... if you find a management firm that consistently gets the job done and is 100% TRANSPARENT then it's probably best to maintain that relationship as they probably won't like you working with their competitors.