I just started my due diligence phase, but the first thing I need to do is better understand the financial feasibility for the project, and how the return might compare to other investments we have undertaken in the past, which have been mostly acquiring existing buildings and renovating, not new construction.

If it sells, especially at that high price, it will be to an out-of-state investor who does not know better, and they will compare it to the pricing they could pay for a similar house in their local area. 

I was able to do little work, save money compared to renting, build equity in the house, and sell for a good profit that allowed me to 1031-Exchange into a Commercial Property.

Zero cashflow, sure there is "appreciation" But I have never met anyone who can make that argument seriously when comparing it to other asset classes.

Look for someone with at least five years of experience in your market.You should find 2-3 qualified contractors with comparable bids.

Look at how your property compares with others in the price range

A house is always valued and appraised using residential practices which uses comparable sales.

Look at comparable sales and market trends in your area.- Consider hiring professionals like architects, engineers, and construction managers to help with the process.This process can be lengthy and involves several steps, but with the right guidance and preparation, it can be successful.

The city's relatively lower entry costs compared to other East Coast cities make it appealing to investors especially section 8.

You can refinance a new build into a DSCR loan as long as you have the certificate of occupancy and if there are comparable properties to support the ARV value.