in a stick frame market and one of the cheapest markets to build we build with margin at $190 or so a square foot. that will go up over time about 5% or 10% a year to keep up with new build price increases. we are buidling a 3 story walk up and source some of the lowest priced crews.

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

Are you in the Atlanta Market?

I realizing the duplex conversion strategy is more complex I probably wouldn't try it on my first property, just want to get a sense of what's possible in the Chattanooga market :) Thanks!

Depends on the market!

Chicago, with its vibrant neighborhoods and strong rental market, is a prime location for this strategy.

Let's say you paid $250k for it, and it's now market value $500k.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

Educate yourself with books, podcasts, and market research, define your goals, and build a team of professionals to support your journey.

The garage and the fact that a long term tenant was in place paying market rent.