He indicated that they have begun to change their business model now and they no longer sell a property until it has been permitted.  

Today you can get funding for a good deal without an issue, so the business model is kind of obsolete.I used to buy BRRRR deals, but over the last years, we switched to buying homes that are in move-in ready condition.

In fact it's the exact opposite, 1% of commercial agents don't know what owner financing is after doing this model daily and speaking to 100's of commercial agents.

An engineering backed modeling study might be good for this type of property.

.- Leverage Serviced Housing & Co-Living Models: High-end, furnished rentals for military professionals, digital nomads, and traveling contractors.Example Strategy- Raise $1M from 10-20 investors (military/gov personnel) to buy 3-5 properties in Germany or Spain.- Use seller financing & local bank loans to maximize purchasing power.- Rent properties to military families, U.S. contractors, or co-living tenants for stable cash flow.- Utilize local tax incentives and investment visas to increase ROI.Why This Could Be a Billion-Dollar Play- Solves a real problem for U.S. military/gov professionals looking to invest overseas.- Provides stable, built-in demand (military personnel have guaranteed salaries & housing stipends).- Creates an alternative wealth-building strategy for a niche group of investors.- More scalable than traditional rentals.

I too, am hopeful the City gets the right model at the building department to handle the volume of permits and inspections. 

These methods include:Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachFor further details on the methodologies, refer here.WHAT ARE THE BEST AND WORST PROPERTIES FOR COST SEGREGATION STUDIES?

This strategy aligns well with long-term hold and appreciation models.6.

Personally I don't think this lends itself well to the fund model. 

I dont believe in ever losing money and lean towards the cash flow model, but recently I walked into a property with maybe $100.