Given that you said it was for a friend to live in himself and not an investment, I'd error on the high side, and I think $200/SF might be light, especially if the neighborhood merits $2-$2.5MM homes.I did a similar budget last year for NEW construction (but down to the studs wouldn't have saved me much $) in my town and it was going to be a $2.0-$2.5MM exit.  

Look at it on it's own merits.  

However, now that I think I understand cap rates a bit better, they seem speculative, situation specific, and therefore unreliable as a tool for determining the merits of a deal.

This may or may not turn out to be a deal that Caitlyn proceeds with, but I would urge her to make that decision based on the financial merits of the purchase.

I think there’s some merit to this method but it’s not as good as a referral from another investor IMO.Online sites like Angie’s list can be hit or miss in my experience.

In a syndication, you can evaluate the merits and underwriting of each opportunity presented to you, whereas in a fund context, there is no choice. 

But ever since I took the blue pill, I can see the merit of not investing in 401k.

This site prefers I do not post the links in this message so I will send them to you direct.I am not convinced of the merits of the venture.

I lost all respect for him when he stopped running on his own merits and started to run a campaign that was only about the other candidates.Huckabee seems like the only honest Republican (other than Paul and McCain), but he seems to be too far Right to be electable.McCain has experience and would likely make a great leader - no one seems to care, though.

Whilst this strategy has merit in some markets it can prove to be very dangerous.