Thats ground up new construction prices just about.

@John Underwood It is going to depend on the type of construction (old vs. frame), distance from a station, etc.

If Jesus came back and got into rentals NO, N-O-B-O-D-Y get's admin access into our system. 2) They want a standardized list for maintenance items so they know in advance what repairs would cost.Being a PMc I'd invite them to acquire any of the readily available construction estimating tools/software out there such as RSMeans, but would not take on such a task as building and maintaining such a database, honestly for any $, it's simply not what we do. 3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.A-ok. 4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.I'd be fine with this as long as they sign a waiver that they own any/all negative impacts that result from such including extended vacancy periods, vendor refusals of service necessitating there own self-search to secure amicable vendor etc etc.. 5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $300LMAO!

Here in GA it is a cash sale at the courthouse steps.With all the guru's and TV shows pushing "flip this house" and " a million mistakes were made and we still made money " newbies feel like they can't lose trying their hand at this stuff.In the entry levels flips new investors are overbidding due to lack of experience, construction materials are rising in cost, and contractors are in big demand so they are gouging on what they charge.

Some of the challenges are tenant friendly laws and high costs of construction and maintenance.  

I also build new construction and do remodels for the community.  

3871 Holders Grove Rd, Cosby, TN, 37722, USA (auction.com)
A few thoughts.  While this wouldn't be my number one choice of locations, all I care about is making money.  If this can be bought for $200K or less, it's a...

A successful venture involved flipping a 30-unit apartment complex; acquired for $450k, we revitalized it with a $150k construction overhaul, achieved full occupancy, added a laundromat, and subsequently sold it for $950k after two years.

.• New construction is likely to remain limited, with inventory growth forecast at 0.5% in 2024, declining to 0.2-0.4% annually through 2028.However, downside risks remain.

I will post the before and after pictures, hopefully it can help anyone starting this journey, we are new investing out of state but NOT new to handlining construction project out of state for clients, looking forward to the challenge!!!!