Multi family - New construction vs existing

[Sabi Const]

Hi everyone - thanks for taking the time to read my post. I am interested in your thoughts about multifamily investment properties. I believe that cap rates are important and cash flow is king. My thought is that constructing a new multifamily property will be more attractive to renters rather than offering an existing 'older' unit. Also, the expected overhead should be less because of using new materials. Is there another way to think about this? Also, regarding the financing aspect - what is the most effective and efficient way to go about it? I have not yet contacted any banks for lending options but have heard down payment requirements of anywhere between 10-30%. Thank you for your time and look forward to your comments.