Hello BP Community,

I am a new member, an out-of-state investor, and currently self-manage two new construction properties in Georgia. I am considering my next investment and need advice.

I am contemplating between buying a new construction in good markets like Marietta, Lawrenceville, or going for older single-family homes in areas like Covington, Conyers, Loganville. My budget for this year in cash is $100k that can be used towards downpayment, closing costs, fix small things, property management fees, lender fees etc and rest will be looking for conventional financing as of now.

New constructions offer better interest rates, minimal maintenance costs for 2-3 years, and potential for self-management due to higher rents. However, the high purchase price is a concern. Older properties could allow for a higher quantity of investments and potentially more cash flow, but I lack experience with these and would consider working with investor friendly realtor and property managers.

I would greatly appreciate any advice on:

1. New constructions vs. older homes.
2. Self-managing or working with a property manager.
3. Identifying promising locations for long-term rental investments.

Thank you in advance for your time and help.