We did consider/evaluate that option, and have done multiple flips, but at those points have been under contract since New Year's Eve and carrying costs for another 2-3 months without a guaranteed sale is not the risk we want to assume.

Hi, I just started using BiggerPockets and am excited to learn about the community and all the resources available. I'm particularly excited to find others in my area and start to attend some meetup groups!

Square footage is roughly 1600 sqft.Could use minor cosmetic rehab on the outside to make it look pretty, inside is brand new however. 

I had just mastered the original deal analysis and was getting comfortable analyzing deals.  I love the more detailed analysis but I'm overwhelmed.  Any advice?  Many thanks! 

On my new builds we hit the double cash on cash in certain markets sometimes its only 50%.

Knoxville isn't a luxury market. widen the gap and do new construction. find infill plots of land in better locations and have more control. work closely with a builder who Is working with investors. we have flippers who did hundreds of flips then they graduate to new builds and say it's much easier. if you have the balance sheet you'll be fine. budget 20%. new construction commands a 20% premium and is much easier to duplicate Over and over and much less risk. 

I am currently working on bringing to life a houseboat community in New York.  

I have seen it too many times where an investor will buy an older property or even a new build, they net cashflow similar to you for a year ($100-$200 per month) and then a $5,000 repair or insurance/tax hike here hits them and it's a loss - they either get forced to sell or are majorly setback and unmotivated. 

Any advice would be appreciated, as I am again, very new to my journey in finding my way through the "rat race". 

Hi Nicholi,Congrats on your new rental property!