I don't really have a rule of thumb, it depends on all of the things you mentioned and also how big the building is and what your amenities are, if you have garages that may have doors that need to be replaced, elevators, overpasses...those types of things that would be different from a standard building.

Are you on city sewer and where is the connection in terms of elevation to the foundation of the house?

@Steven King what's your 'elevator pitch'?

Also, the house is on a concrete slab rather than elevated/crawl space.

Project built.I've had planners tell me they don't like a certain elevation of our building and wanted the owner to add a ton of ridiculous ornamental work on one side of the building that would have cost the owner thousands of dollars.

Also if you think the property is located high enough, you can get an elevation survey done to try to get the house exempted from flood insurance.

There are other apartments in the area that are available, that are low income (which is what he needs anyways) and have elevators in them.

Im not a mentor, but i would hit up all the local REIAs and use your best elevator pitch there. it wont be easy. a good REI mentor is making several hundred dollars an hour. and they can pay 10$ for grunt work. go driving for dollars and get a list of 100 vacant/distressed properties(ugliest ones in the on a clean block). find the owner via the county and put them together in an excel spreadsheet (owner/address/last sale date)and then approach someone who you feel comfortable with. dont offer it all up at once, it has to be a fit for you too. print out business cards with a number and hand them out like crazy, talk to realtors and flippers/wholesalers via networking and email them, text them, call them a few days later to follow up and talk about your list. that is value$$ "hey mrs/mr realtor/investor, i have this list and id be glad to share it with you for a JV split 20/80 for the first 3"..."

I am looking to change up my "Elevator Speech" that I use to give people a quick overview of what I do (buy distressed properties to rehab and resell them).

@Cody Evans First of all you have to be someone able to build rapport almost instantly and need a good elevator pitch, but it has to be 100% natural.