houston is probably similar pricing to Columbus Ohio but way worse zoning laws. we take 20% on top as a GC and a guaranteed fee agreement. our contracted new construction projects recently:Single family new build spec home: 1513 square feet with 3 beds 2.5 baths 1 car attached $275000 approx $182 a square foot if calculated using heated square feet which means our cost is $145 a square foot. 3 unit / triplex new construction: 2008 square feet 2 bedrooms 1 bath per unit or total 6 bedrooms 3 bathrooms with 3 off street parking spaces. contracted build cost $395,000. no garage on this and better economies of scale with shared roof, slab, etc. $192 a square foot hard cost with our cost running approximately $157 a square foot. 

That’s why I’m always refining my approach—whether it’s using alternative data sources, networking with local professionals, or adjusting how I reach out to owners. 

Activities that deal with electrical or plumbing should be outsourced to avoid more expensive issues unless you have some prior experience with the simpler repairs in each.

It doesn't seem like the WSJ released tax guides for 2024 or 2025?

Owner sat on the offer for a week or so and then I got a call that they accepted. 

This seems to be a VERY good deal for a BRRRR and I think you should be able to find a local lender (bank or credit union) that would finance this with a DSCR loan.Thats awesome thank you so much for the information. 

If it’s over that amount they’ll send photos and quote that you can accept or shop around. 

Maybe you did not explain it right, or maybe they want to see you succeed on your first deal then will throw money into the investment the next go around.

Even being more experienced, I would have rather wholesaled or wholetailed this property knowing what I do now. 

House hacking can certainly be a great way to build equity and reduce living expenses, but it’s essential to have a cushion in case your rental income doesn’t come in as expected or renovations take longer than planned.