I've seen estimates of $200 to $400 per square foot for SoCal with $700 sq ft for something higher end and building up a hill and but possibly higher for San Francisco Bay Area (lhigher labor costs, etc.).  

Your plan to house hack a multifamily property in Indianapolis is a great strategy to start building equity and learning the ropes with manageable risk.

Same goes for many apartment buildings offering MoveIn Specials.So, if it's slow-time winter or a property won't rent for another reason, why waste time worrying about why it works or how to avoid it?

In my market, which is a fairly economical place to build, I am friends with full time builders that are in their properties about $150k/door for construction level finishes.  

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Though the buildings are attached, the guest rooms all have individual exterior entrances with no interior connection to the residence. 

Explore off-market deals where competition might be less intense.Don’t get discouraged—success in these markets often comes from building strong connections and thinking creatively about deal sourcing!

They are literally building their own comps.

Laundromats that are next to (same building) or attachedwith an access door to a coffee shop, cafe, etc are the best ones to get.