Per square foot can only be used for a gut rehab in the same neighborhood with no structural or other environmental anomalies...so almost never.

The missing element/data point here is the market rents in the area and how your units compare to the market.

@Cody M.I would add a Phase I Environmental Site Assessment as a contingency to any offers on properties more susceptible to environmental issues (dry cleaners, gas stations, auto repair garages, etc.)

Don't worry about losing.That is likely not the only reason you are losing.We use this language for our clients, "Buyers agree to limit inspection repair requests to major structural, mechanical, plumbing, environmental, and safety issues."

That being said ( and I will be interested to hear from some of the larger syndication groups ), I have found larger check writers (family offices hedge funds pref equity groups etc) often want some element of control and higher returns for their investment and so perhaps that is why larger operators accept smaller checks too. 

Howerver, I have resrvations about how this will impact the community's living standards as the development will immediately border some neighborhoods and could bring unwanted environmental impacts and noise. 

However, challenges remain, particularly with balancing environmental concerns and ensuring that new developments cater to lower-income families.

The episode dropped recently on the BiggerPockets Real Estate Podcast and goes into how these design elements can give your property a competitive edge.If you’re working on a project or investment in Arizona and want some insight on how to approach renovations to maximize value, feel free to reach out.

It seems strange, but some statutes are old and outdated and have a few peculiar elements.

Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environmental reports, open permits, and the Certificate of Operations.2.Physical Property Due Diligence.