Feeling overwhelmed is totally normal—it means you're taking this seriously.

By the time we get to a seller who wants / needs to sell we are normally burnt out and arent being the best versions of ourselves.

By the way, I think $140 per square foot is pretty high. 

Nothing is foolproof of course, but having another investor in your market make a suggestion at least gets us on the right foot. 

Now that I dont fly anymore  I dont think I will ever set foot in that area its just way to far to drive. and personally not a big fan of the Oregon coast  unless  its Tillamook bay to fish for Salmon and Steelhead in the rivers that feed the bay .. thats the only time we go to the coast.. my wife was born and raised on Puget Island in the Columbia river ( Cathlamet) so she wants a summer home there on the island you can get river frontage and nice sandy beach and watch the big ships roll by.. 

Normally that tax is split between buyer and seller but since its an auction the buyer pays it ALL. b.

The only difference between STR insurance and LTR insurance is STR insurance will have a higher ceiling, which is normal considering their higher premium, and they will cover irregular items like flea damage, furniture damage or bike accidents which never fully cover the cost of insurance increase if you ever claim them. 

Loss of Use / Loss of Rents: Normally, there is a 20% included limit.

Nonetheless if you can build a 7 plex for $700K (in my area, things are getting built for $200-300 a square foot), it definitely seems like a profitable endeavor. 

If youre saying condos are trading at $220 a square foot....Id be planning on a value of $110 per square foot on a co-op.