First Time Doing A Build To Rent

[Seth Excellent]

Hey everyone! I recently acquired a piece of land in Lehigh Acres, FL. The lot is 0.25 acres, im looking to build a SFR, 3 bed, 2 bath, and ~1300-1500 sqft. With a Plan of holding and renting out long term. This will be my first time doing a BTR alongside my brother, we plan to finance with a construction loan for the majority of the project, as we dont have a lot of capital. Any tips on attacking this? Should i be my own General contractor? I know that is super hard as a first time home builder and i will likely stay away from. What are some ways i can mitigate risk before diving deep into this project? Is there anybody here i can consult if i have any specific questions? Thank you guys!

[Adam Bartomeo]

I would be very careful on buying any property to rent in Lehigh. You will need to do your due diligence on the area before dumping a lot of money into a new build. The rental market there is in steep decline. I write a market update every 3 - 6 months for SWFL. Lehigh has been completely over built for the current rental needs.