Certainly talk to your CPA or your 1031 QI, both of which should have had a 10 second explanation at the tip of their tongue.

I am a little late to the game and have been told several times throughout my adult life to invest in real estate, but I ignored the advice.

Just remember you are spending time and money to improve a space that isn't yours and you're not able to take the improvements when you leave, ownership should have some skin in the game especially in a new build.   

In online forums, the danger I've experienced is the "national" effect. 

It's the scam sales funnel 101 that you read about online with old ladies spending their last dime on some "guru".4.

Which they have no skin in the game (Technically).

Not us, and not the economists as it is all truly a guessing game. 

Can't find any reviews online on that.

Love your mindset—real estate is a long game, and you're starting with the right attitude!

After some research online, I am reading that the cost per square foot on a gut renovation of this nature in Stamford CT is anywhere from $150-$350, which is ultimately not very helpful, because at $150 per sq ft, this is a very appealing project with a total profit of ~$175K (46% ROI) and at $350 per sq ft, it very much isn't, because it would be a net loss of 83K (haha).QUESTIONS:What can I do refine my estimate a bit given that I am not allowed to a formal inspection on the property?