Just as owners dropped their nightly prices in the past 3 months due to fear and scarcity expect builders to follow. 

Hey @Engelo RumoraDont mind me, I'm French, we're curious and nagging folks !! 

My advice would be to never bend your numbers because of the fear of missing out.

Should I fear squatters or theft? 

Even if you're not in the Denver area, fear not!

However, don't let fear dictate all of your decisions.

Fear not!

However after all the work thats required which includes landscape, parking lot, fencing lighting and interior/exterior work, it looks like the presumed cost of remodeling it will be double that, although Im not positive (still taking bids).Ive priced a comparable property in our area which has similar square footage and lot size and they seem to be going between $700-800k, and so my question is: based on a higher than expected construction cost which is necessary to finish our project, one which will exceed the amount of money of what a similar property goes for in our neighbrhood, should I continue with this project, or an alternative plan would be to simply beautify it for approximately 100-150k and ditch the plans, and flip it instead for approximately 700-800k now that its zoned commercial.My fear is that if I do invest the moneys to finish the project over the budget I initially priced it for, and the business doesnt take off, I would initially lose money on this investment.Thank you for taking the time reading this.

@Wayne Brooks  that was my fear. 

Quote from @George Red: I just don’t want to eat the unit turn costs.This is just my opinion.....but this fear of 'Unit Turn Cost' that a lot of landlords talk about is not good business in the long-term view.