For example, if you are only looking for b/c class properties around 30 units in New York and roughly a similar vintage, then you can get a quote on 2 or 3 of the properties to establish a rough idea what the cost will be on similar properties.  

Sometimes you will find some gems.

At least you know you are dealing with a seller that is ready to sell.But I understand that there are sometimes properties that aren't listed accurately, and little gems can be uncovered... a popular example would be 2 bedrooms houses that have more than 2000 square feet. 

So after about 200 of these gem properties, in my mind, I started targeting more motivated sellers. 

I would definitely consider us a hidden gem that is up and coming.

These "hidden gems" get snatched up in situations like those. 5.

thanks guys for all your support I am going to take these gems and put them to use.

Sometimes you get what you pay for, other times you can find a gem and really make out well. 

The home is 1920s vintage and the outside is in terrible shape it will need a ton of work.

This is very similar to the way you would price the sale of a single-family home:  look at the comps.You want to find properties close to the subject, of similar size and vintage and with similar units.