We just sold a 40 unit complex with similar numbers for $10M or $242,000 per door. https://www.costar.com/article/184572665/multifamily-propert...Construction Cost per Square FootThe cost to build an apartment in Oregon varies depending on the type of construction and location.

As copied and pasted from above-(1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participatesThat's how I understand the W-2 problem... it is hard to say you spend more time on real estate than any other activity if you work 2,080 hours.Another consideration is how much you rely on the W-2 income for lifestyle versus rental income.

I rely on reports from Baselane for income, expense reporting, P&L, etc and any other reports I need.

We have investors for all over the world interested in multiple streams of income and generational wealth instead of relying on W2s.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Larger apartment buildings tend to be more varied. 

I know it varies a lot by location (I'm in Moncton, New Brunswick), but just out of curiosity.Do you find having a 3 bedroom is still appealing to travel nurses, even though they will be living alone?

@Amit SinaiRichmond, VA has a growing market, a varied economy, and historical significance, making it an appealing investment destination.

Its going to vary, ultimately the costs will be whatever a contractor is willing to do it for. 

This varies based on the DSCR lender.