@Dhruv Patel I believe you are getting ahead of yourself....Where in the US are you all-in (land acquisition, soft costs, hard construction) on new construction multi-family for $100/ft.

Also, how much did the electric and plumbing fixes costs?

As a property manager, it's crucial to understand the nuances of these fraudulent practices, recognize the signs, and implement strategies to mitigate risks effectively.Understanding Rental Application FraudRental application fraud occurs when a prospective tenant provides false information on their rental application in an attempt to secure a lease.

.: I’m currently renovating a rental property and exploring ways to manage costs without compromising on quality.

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.

You have to try to estimate MTR income in your area + take into account the costs associated with MTR setup.

% rate buy down, closing cost seller credit,  lower sales price ?  

My father is a contractor so we will be able to complete most of the work ourselves while keeping costs low and add equity.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

These are all upfront soft costs before you break ground. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.