The numbers may be 30-40% lower than today's cost, but the process/approach to estimating may be good for you to review.

What I have researched several months through online forum in Japan is telling me the same thing.

I read @Dan Deppen's earlier response on this thread and I think what Scott might be doing is employing RMLOs to originate his loans, loan servicers to collect the payments and attorneys to review his contracts and make sure he is compliant with all the laws and regulations. 

Most likely your conclusion is correct, but the only way to confirm it is by having a real estate accountant review your tax situation.Also, please read this introduction if you want to better understand the concept:https://www.biggerpockets.com/forums/51/topics/1075919-five-...

Usually you can find this online.#3 Chances are you will never buy a $500,000 property for $30,000. 

You can also search Google and read reviews.

When we purchased our laundromat, it had a strong brand and positive reviews online.

The rules are more complex than we can fully explain in an online forum.

A national buyer would review the BPO and maybe do some brief online research, but would not typically not know, as in your example, about the sewage issues or extent of interior rehab needed.

You may have your lawyer review the contract/property management agreement.