The costs, rents, and/or sale price is based on the micro-market that house is in, and only includes data from properties of the same  square footage (within 10% either way) as the house in  question.Since in most cases, I will have already analyzed the market ahead of time, all I'm really doing is waiting for a property in that market to become available at that maximum price. 

On this specific project, I went for a little more ambitious agenda as the property at hand showed an ARV of AT LEAST 325,000, the property was two story, Property had a converted garage, and boasted a square footage of about 2,400 sq ft.

it all comes down to the risks you are willing to take.Back to your original question: if you have to do a full buildout of unfinished sq footage into finished livable quarters, you are likely looking at about 200ish/ sq ft.  

You'll want to get permits because on the property exit you'll be able to count the square footage. 

Here's a list of tasks where ChatGPT can be particularly beneficial:Initial Client Interactions: Use ChatGPT as the first point of contact on websites to answer basic client queries and gather preliminary information.Property Information: Automate responses to common questions about property listings, such as square footage, amenities, and nearby attractions.Appointment Scheduling: ChatGPT can help schedule property viewings or meetings based on the broker's availability.Market Updates: ChatGPT can be programmed to provide recent market statistics, price trends, or news to clients on demand.FAQs: Handle frequently asked questions about the property buying/selling process, brokerage fees, or other standard real estate queries.Document Explanation: Brief explanations of common real estate documents, terms, and jargons, ensuring clients have preliminary understanding before detailed discussions.Lead Qualification: By asking potential clients a series of questions, ChatGPT can help in initial lead qualification, filtering out those who aren't serious or ready to move forward.Feedback Collection: After a property tour or meeting, ChatGPT can gather feedback, which helps in improving services or adjusting property prices.Recommendations: Based on client preferences, ChatGPT can suggest properties from the broker's listings.Follow-ups: Automated reminders or check-ins with potential clients to maintain engagement.Education: Offer brief tutorials or explanations about real estate concepts, market trends, or investment advice.Localization: Provide information about neighborhoods, schools, and local amenities to clients interested in specific areas.Transaction Updates: Keep clients informed about the status of their property transaction, from initial offer to closing.Referrals: Encourage satisfied clients to refer friends and family by sending automated referral requests or reminders.Networking: Introduce and maintain relationships with other brokers, agents, or relevant professionals in an automated yet personable manner.Maintenance Reminders: For brokers also involved in property management, ChatGPT can remind tenants of maintenance schedules or gather feedback post-maintenance.Reviews & Testimonials: Automate the process of collecting reviews and testimonials from satisfied clients for promotional use.Mortgage & Financing Info: Provide preliminary information on mortgage rates, lending institutions, or financing options available.Training: New agents in the brokerage can use ChatGPT for training purposes, asking questions about company policies, sales techniques, or market nuances.Market Analysis Reports: While detailed analysis might require specialized tools, ChatGPT can give general market outlooks based on data provided to it.By leveraging ChatGPT in these areas, brokers can increase efficiency, enhance client engagement, and free up time to focus on relationship-building and closing deals.

The cost per sqft goes down as you increase square footage. 1000 to 1200 is the sweet spot.

The lot in between would have gotten me enough square footage to utilize the green roof bonus which would have gotten me 3 additional lots on top of the 4 by right the lot allowed.

Look at the square footage, number of rooms, and the year it was built, and compare that to the asking price. 

See if there's a way to fit one of those in there also.You will also have to be careful of minimum square footage per bedroom space permitted in your jurisdiction by building code, as well as minimum window size for egress purposes in case of a fire.

For perspective, the house directly next to this house is estimated at over $900k fully updated with slightly higher square footage, but 1 less bedroom.