My partner is one of the biggest builders in the area so he gets low prices for materials, labor and lots and builds the houses for cost. 

What has been posted is enough to be "dangerous," if it wasn't tax season I may be up for a phone call to discuss your concerns further.If you are interested in investing in a syndication and the tax treatment is a material matter I would question whether it is a good investment. 

From an operations stand point, make sure the quote from the contractor includes — full containment and HEPA filtered negative air movers that ideally can exhaust to the exterior, manometer with print out logs documenting the containment’s negative pressure throughout the mitigation, full removal of affected materials (drywall, baseboard), (wood framing can sometimes be sanded and then sprayed with a spor/fungicide), and finally an *inspection by a third party environmental hygienist for air clearance*.

I hope someone out there can and does help, I feel like there are plenty of other people that need to know this besides me.BP does not permit self permotion even on threads where people are asking.. thus people have to recommend someone they use, but after a while it gets old as it’s not their business to promote someone else’s business each and every time someone ask on BP...American Tracers is good, I’ve used them plenty, and it’s founder Corey Crane, is on the forum.

Buy in either: - Established, affluent areas: Pacific Heights, Presidio, Cow Hollow, Sea Cliff OR- Tier 2 areas that might become more affluent: Mission Bay, Potrero, Dogpatch, MAYBE "Outer Sunset" (although yes - it's probably in a lower tier than the others) 2) Are we likely to make money if we invest in a cosmetic renovation of an older place or is the cost of labor and materials in SF likely to diminish our potential profits to a negligible amount. 

As for ARV105k PP16K Reno labor, materials, appliances7K holding cost (HOA, Mort, RE taxes)128K all inI came up with 175K based on another property for sale 159k and made adjustments for improvements I made that they do not have.  

If zoning approves it and you decide to do the work yourself your cost will be just materials, right?

I've been paying on it all, but its a lot to manage on promotional rate credit cards.

I never pay for labor up front, I will pay for materials (but only by calling the supply house and paying directly).I pay 25% of labor when 50% of the job is completed and the rest after the job is totally finished, inspected, all permits are closed, etc.

The best contractors don't often go to Home Depot and Lowes as much as to the supply houses--they know the materials are better quality and usually less expensive than some of the 'second quality' stuff the box stores sell.Good luck.