BUT, there is also the chance that it comes in at or near your target.  

If supply exceeds demand, then the lower cost supplier will set market rates, and high cost supplier will lose money.for the current case of real estate, most markets have more rental demand than supply.

Whether it’s developing new housing complexes or refurbishing existing ones for higher-end rentals, the opportunities for capitalizing on this growth are vast.The decision by Anduril Industries to set up shop in Columbus is a game-changer, signaling a major shift in the city's economic landscape that savvy investors should not overlook.

We diversify, but because we are active investors, limit our diversification to assets we believe we have a competitive advantage and are able to obtain our targeted “premium” return.  

I would also target ones that are ideal for renting out when you move out so maybe do a lower price point. 

Excited to meet you and the potential to get a REI meetup set up. 

(Starbucks / yoga studio / craft brewery /boutique cookie,coffe or ice cream shop  are the easiest targets)-Activation of dormant retail sites-Increased foot traffic For B to AAbove also apply-Home valuations (are homes in the increasing at rates above nearby or similar neighborhoods)-Is it walkable or are projects in place to make it highly walkable for residents-Is it near highly desirable activity centers -is it unique (for example - Can it get historic designation)

However, a lot of concerns can be mitigated with looking at their past rental behavior in a lot of different settings.

Weigh convenience vs. control—your renovations and location set you up well for long-term growth! 

It is fair to express your disappointment that they exceeded the cost target you gave them.