There were a lot of items that had similar cost that are not directly scalable with total sq ft, like HVAC costs (units are small, so there is minimum equipment sizes), plumbing costs, foundation cost, permitting costs, to name a few.The $90/ft2 had nicer exterior finishes (hardiplank vs vinyl, nicer windows, nicer doors, etc) due to historical area building restrictions.  

I have contemplated, (but not followed up on ) investing for years, but this time I jumped into a REO in Traverse CIty.I am a construction equipment mechanic in Chesapeake, VA.

I have personal experience to apply to lessons I learn along the way and am more well equipped for my future real estate goals which include more rental properties.

(Moving, sick, elderly, equipment is old and they want to dump it on someone else, demographic changes).

Great insight- I have heard that this can be a very thin line to walk...if I were to go ahead with this, I would most certainly use a designated room with strictly business equipment- to the extent that I would consider two offices, one for business, one for personal finances...Thanks again for the help!

I've seen some LLs use used water heaters or other components and say that would turn a replaced (with a used equipment) a repair.

It does have equipment in there.

The building was constructed in 1980, so maybe the equipment is from that year even.Over 4 years of dealing with them, things have been smooth.

It also set in stone how much I have to learn and educate myself on but better that I do that now as opposed to when I own a property and realize how ill-equipped I am.Many thanks Nancy!

I will email my broker to clarify as suggested and everything everyone is saying about makes sense, from the listing to knowing more about financing to be a better-equipped agent.