I'm very good at running comps and determining rehab costs.

The cost to maintain them probably wouldn’t be exactly 8x as compared to the single 8-unit, but it sure as hell isn’t a 1-to-1 ratio either. 

Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

Looking to construct a duplex at a reasonable cost but also quality for long term durability.Thank you!

It costs $25. 9am to 11:30am.

A typical PPM will cost about $10K. 

For those curious about the numbers:Purchase Price: $95,000Renovation Costs: ~$4,000ARV: ~$140,000Expected Rent: ~$1,500Thank you again for being an incredible resource.

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

This is the percentage of costs (purchase and rehab) covered by the loan.