In fact, I would want to go even lower because there's a very good chance some damage is hidden and costs will run higher than anticipated.If you aren't experienced, I recommend you just buy the good apple. 

Between carrying costs, having to potentially raise equity and/or utilizing debt during the pre-development period  had I settled plus associated time, I  probably would have spent a similar amount of money.

I've already picked up some great tips, like focusing on operating costs, using comps for ARV, and the unicorn-like nature of good contractors.

Sure don't do the renovation, I only do renovations that project a return of 2x the cost of the renovation.

Building a 4,000-square-foot, three-story duplex with a 1,000-square-foot ADU could cost about $1.83 million, including construction and permits (excluding land).

Some even offer preferred interest rates as low as 5.75% at no cost to you. 

They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.

Yep, off water, but with nearby water access and view seems to be the same ROI considering the cost of the property. 

Ultimately, it’s essential to consult with your lender to understand what’s best for your long-term goals and costs involved.

The family viewed the house, loved it, and requested that I install satellite TV and add it to the costs, which I did.