- This approach should be fine. 

My wife and I have never really followed the $$/sqft. approach because it's not as accurate.

The numbers may be 30-40% lower than today's cost, but the process/approach to estimating may be good for you to review.

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.

So how would you approach the OTA listings from the beginning knowing you planned to sell or transfer management to an operator at some point? 

We currently work with out of state investors and provide a full service approach which can be used by in state investors as well.When it comes to investing I'm currently in the process of closing on a partnered 4 Unit in Milwaukee WI.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

@Jake Baker Love the approach of measuring the total offers that you send, if you know your strategy most of the time it is a numbers game no matter the condition of the market. 

@Brandon Dixon starting out by passively investing in apartment syndications is a great approach, especially if you have a full-time job.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.