Building a new construction house hack. Good idea?
I have been looking for a duplex - fourplex to house hack for a while now and am finding that inventory is low in my area and the locations where small multi family units exist tend to not be great areas to live in. I've been researching new construction vs. buying, and I find that many articles say that new builds may cost a little more up front, but can save in other ways in the long run. My concern is that most of these articles are directed to ppl wanting to build their own single family residence.
In thinking of a new build project as an investment, I have a few questions that I have not been able to find any comprehensive answers to:
1. Do new construction investment properties typically make less sense than buying and rehabbing an existing property?
2. Would I still be eligible for an FHA loan with new construction if I still plan on living in one unit?
3. Would I be able to consider possible rental income when applying for a loan since there may or may not be many comps in the area?
4. What type of restrictions should I look to avoid when searching for land to build on?
5. What other questions or concerns should I be raising that I may overlook?
Any and all feedback would be a great help! Thanks!