If the average price is $80/sq foot and each unit is 1200 sq feet ($80 X 2400 sq feet = $192,000).

Is there some kind of specific software or sources that they use to figure out things like cost per square foot, usable square foot/person, assessing the current state of the market or assessing their competitors??

So a bank might appraise one of these uS construction homes at $600K because they can point to a few 2400 sq foot homes in the area that have sold recently but the reality is nobody will buy it for that because there are better quality lower cost alternatives in the area.

Like letting someone else foot the bill for the down payment for a % of equity so you don't have to come out any money.50% of something is better than 100% of nothing...You can have buyout clauses, etc so you can eventually take back all the equity once you do have the funds if you want.

Still, the budget for the rehab is like $100 per foot.

Go ahead.The lawsuit would then be turned over to my insurance company who would foot the bill to defend against such non-sense.

I rarely set foot OTP, where you are, and know nothing about the market, since it's completely different from ITP

well lets not get off on the wrong foot.

I don't like to inconvenience people, but sometimes you just have to put your foot down on important matters..And get multiple quotes!

Fast forward to today, the condos were never updated and fixed..a few of the buildings burned down, the quality of tenants that it attracts is just awful and now the seller desperately wants to sell but can't since they need 70% of the tenants' vote to sell the property off....I dont know anyone who wants to touch that place with a 10 foot pole.