Buying New Home Rentals Vs Older Flips
I'm looking at a market and I can buy 20-30 year well maintained 3/2 single family (new floor, paint, etc.) for around $120-$130K. I also found a home builder where I can buy brand new 3/2 homes for $145-$155K in the same general area of the city.
What are opinions on buying a new home rental vs. slightly older flip home? I know most new build developments have restrictions on the number of investors and rentals. What other things should I be concerned about? Are there a lot of other risks for a new home being a rental? Since maybe the whole neighborhood isn't fully developed yet maybe that scares off a rental tenant? It seems that the new home would have better returns because less repairs and the home warranty for the first few years. Also being a newer development i would think it would appreciate slightly better.
What does everyone think? Thanks for all your insights