Then you'd be Bank of America and not have to worry about fixing toilets etc.  

@Nikki Harmon  put the 20k into the home and then sell for full retail. my experince with teh buying public mirrors Mark's   when there is work to be done what a retail buyer and you will think about the costs of repairs is usually way different your thinking 20k they arethinking 40k and will offer accordingly   the buyers buy and large are not versed in remodel and updating and usually don't have access to subs that most fix and flip folks do so their costs are far greater.. 

It's a building with 2 commercial businesses in the lower level that rent one for $450 a month the other is only open 3months a year and only pay $1800 a year as well as one apartment three bed 2 1/2 bath 1700 ft.² but then there is eight apartments upstairs all one bedrooms but only three are rented out at 300 per month and one is 200 per month all the other units need remodeled before they are able to be rentable just trying to find the best way to do the numbers on this project The lady has had the building for about 30 years and she does month to month leases so it's hard to go off of income per year as well as expenses any help is appreciated I have more numbers for sizes of stuff if needed to help analyze this project

Maybe be more specific when you say "invest in new construction".Are you referring to SFR's, Multi, mixed use, etc.Or did you mean remodel?

I am in the middle of closing on my first deal I actually got in an auction and as soon as I close, I'll start with remodeling it.

Some jurisdictions look at the project differently as a remodel(1 wall remaining) as opposed to a complete tear down.

Last year, the industry as a whole posted 483% Gains - Topping Cemeteries, Parking lots, offices, and Of course, ANYTHING with a tenant or Toilet.  

There is a lender here that will allow you to move on to purchasing and  remodeling house B using the same down payment once you finish remodeling house A and not have to wait until you sell house A.

It had no hot water heater, the electric wiring was so old it all had to be replaced, it had termites, the bathroom needed a complete remodel.

I am a project manager for a remodeling company in Washington DC, and have the knowledge and experience in the construction/trades field.