It's important to run your own comps and go out to the property with a contractor so that you can get an idea of true renovation costs. 

It was a huge investment, but it cut the electricity cost by the full 2K per/mo all summer.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

This lowered my cost basis per lot by 7k.

My favorite ones (as a Contractor) are those like : "How much will it cost to re-wire my entire house?"....."...

There are ways to mitigate the costs and protect yourself to the extent possible.

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

I just couldn't justify the cost of the program right now.

The location all in,cost him X; he got an appraisal for the bank from CBRE national firmof XX and now the firm who called him mentioned paying XXX.

How about the increased home insurance cost for a landlord policy?