Why not buy an existing building and just take it from outdated to modern.

I have read many books, gone to workshops, and listened to people at the top of their game in a variety of industries. What I learned is that though a process can be individual, there are principles anyone can follow ...

I rent SOME of my homes to people without modern verifiable credit and background (read: undocumented residents or recent immigrants). 

I can figure out the ARV but repair costs are the make or break wild card.I am looking for a rule-of-thumb method of estimating house repairs from my couch.This is not an exact science.

Get per unit estimations of rehab costs and then you can let your team do the rest of the calculations.Remember, underwriting is an art and a science.

I've also asked about making use of the existing well/septic, although I anticipate on simply replacing same with the new construction.Our counties aren't very modern -- while tax info is available online, I still have to go to the courthouse to research any other liens/judgements against the current owner to see if there are hidden claims to the property.  

The space is actually very nice and modern.

The rest of them are spot on - modern homes bring higher values, 2 car garages, views, amenities, and the age old - location, location, location.

Background:I’m a 25 old college student, graduating in 7 months, with political science and economics degrees.

I know individuals who were able to negotiate 70/30 splits for new modern credit card machines (164 units in Phoenix) and 60/40 split plus a signing bonus for (8 units in Orange County).