Would be curios if folks have also just included the cost of utilities at this price and left it unpermitted.

This is down the alley of tax liens.Yes, deduct the lien from a sale price.

Sometimes the asking price does not reflect what's actually going on, there's a tenant, there's a change in the seller's situation, etc. 

Purchase price: $150,000 Cash invested: $60,000 Rented it for $2195.

I have done it successfully on my last 2 buildouts, maybe 3, but only because I was able to acquire the properties at a very low price and I did all the work in-house (myself and some hired hands on staff).

You might want to check out the Detroit Land Bank Authority, which sells rundown properties at super low prices—as long as you commit to renovating them.

Housing prices still went up a lot more than usual the past couple of years in Springfield, and even more so in the surrounding towns.

If it is indeed less on the other estimates present it to the PM, if they are the same price then you know the PM probably did the same digging to find the right company for the job.

I am going to buy an apartment in Bali which is in a construction right now and the price is a presale price.

I will be lowering the asking price and seeing if that will help in the sale of these properties.