New construction vs. Rehab

[Elle Hall]

I live in a city where rehab properties go very quickly, cash deals for the most part, with the exception of the extremely dilapidated properties which are  located in the lower income areas of the city ( few businesses, some crime).  Im in a position to purchase a small tract of land where I can build a duplex up to a quad.  My question is would it be better to pay a little more for a new construction property or do I wait for a hot property to become available, place an offer which may not be that far off from the asking price.

thanks!

Elle