Looking for advice and potentially a partner

[Brian Chase]

I have a lead on an off-market deal in downtown Tucson. It is a duplex in really bad shape about a mile outside of downtown (but still in 85701). It's about a 0.23-acre lot zoned R-2. I previously looked at the property with a contractor whose advice was to just knock down the structure and start over. There were roof leaks, mold, needs all new appliances, flooring, etc. I didn't purchase at the time and the owner put the property on the market, but no one bought it and he took it off the market. He just reached out to me again to see if I was interested. 

I am very interested in this property for a number of reasons, but I'm not sure how to evaluate it. I don't know how to estimate construction costs if we were to do a complete teardown and start over. I also don't have any connections to contractors. The guy I had worked with before switch jobs. This would be my first investment, so it is a bit daunting to start with such a big project. On the other hand, I think there is some great potential. 

I'd love to hear what you all think. What questions should I be asking? Is there a good way to go about figuring out construction costs? 

[Greg Morris]

Brain it depend of what kind of structure, is brick, wood etc. Is the outside structure damage from water , dry rot, or whatever. How many levels are you taking about? Do your research before you buy this property. Is it in a prime location? Are you going to get top rent for the place or do you plan to sell it?  If you do decide you want it the first thing to do is hire a building inspector for a full report on the building. Before making an offer. Get back with us after the building report. Be prepared to spend (depending on size) $500-1000 for an inspection report. Once you get the report than you can make an intelligent decision.