@Kyle Hipp Hit it right on the money, it really depends on what the county says.So for example, out in Philadelphia, for a 3+ unit NOO I have to have a fire suppression system installed. 

Pricing varies significantly by region and insurance companies underwriting practices and appetite vary by region.

Perhaps a good starting point would be to determine what your appetite for risk is and work from there.

It was an online auction that got bid up between me and one other investor, so I knew the profit was going to be tighter when I worked out my max bid, but with less inventory and more investor appetite, I knew that a $30-40K profit on a flip in that price range was to be expected.

Once the 6 months is up  you can try and suppress the title giving you a clear title. 

Don't even get me started on fire suppression systems. 

Realize that the GS sale is a bit of an anomaly, I expect inventory to improve next year, especially when GS has their appetite filled for the DOJ credits. 

I honestly don’t know the answer to that question but I suspect the appetite isn’t as strong for value-adds from institutional money?

Given this - the biggest change in my appetite is to look far beyond my comfort state (NJ).

All I can tell you is that we found a builder who built our 4 bed /5.5 bath 3500 sqft home with a fire suppression system in 10 months in 2021.