Yep, the real estate there is stupid expensive and super expensive to build, get materials there, and there's a shortage of actually private real estate, so it's rough. 

The lower end flips are easy to design and source material, mostly cheap RTA Shaker cabinets, LVP, etc.  

I'm skeptical you could do a 4-plex for $775k all in, particularly if you're building in Alaska where everything is much more expensive - from materials to labor.

Two, we don't advertise ARV numbers or Rehab numbers on our marketing material. 

The work should have only taken 2 o 3 months because there was no major construction work done to the home except the metal roof and an HVAC.We brought the property because these friends have several section 8 properties in the area.

We made some adjustments to our pricing earlier this Summer 2022 to reflect some material pricing changes that we have seen.With that said, construction pricing can vary substantially based upon many factors including the project location, property type, specific SOW, material selections, contractors used, season of the year, etc.In fact, pricing can vary substantially from investor-to-investor and every investor will have different prices they use. 

Since LA has banned STR for more than 90 or 120 days, requires one to live in the property for 9 months or so and ADU's or guesthouses cannnot be used as STR, how does a host pass the Material Involvement test?

I wouldn't buy a brand new home from brand new builders that do not have enough experience or those who use cheap material.

Some of the members/partners may not be eligible to use the STR strategy if the other members are material participants. 

Before I would personally buy a course, I would listen to/read all the free material on out-of-state investing (there's a lot out there).