Depends on your goals I guess.
You will always make more money in the long term if you hold, rather than constantly turning properties over. However, you dont get the benifit of cash flow.
The buy and sell process will cost somewhere around 10-15% - this is equity you could keep! With $80k you should be able to find a nice cheap unit/townhouse to buy, do a reno and rent out and it will be neutral within 12 months (at the longest). So why sell and give the future value increase to someone else, plus pay the everyone else who has a stab at your $$?
The only reason I sell is if I cant afford to hold.
Why build something new? the build process takes a good 18months from settlement, which means you are paying interest that whole time.
Why not buy an existing house and do a reno with a 3month turn around.
Lower risk and quicker process.
Just some thoughts to consider