Maybe that's what they are referring to and have the number wrong?

Depending on what you are getting into, it could be fantastic, or a maintenance headache if the reason it's off market is because it has some deferred maintenance. thanks for the reference.

What type of new construction are you referring to? 

That PM may refer a contractor though, but definitely do your DD on them. 

I always check previous landlord and rental references, and call the HUD office for a character reference as well.

I have several contractors I refer business to it really just depends on what you want done. 

He will be required to have references and proper insurance but it's not difficult having him approved. 

I just wouldn't refer to it as pretty high relative to historical rates. 

While we’re here, does anyone have any references or recommendations for a third party company that offers cost segregation and form 3115 filing?

We refer to this as reconciling to the previous tax return.As far as where to get the information to calculate some of these values, most of it can be derived from the closing/settlement documents for the fixed asset.To calculate depreciation, amortization, etc, you'll dig through IRS publications.