An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

@Joe S., I haven’t managed a property for the padsplit model yet, however it’s interesting.

@Amby BhagtaniAnalyzing a market Sperling’s Best Placeshttp://www.bestplaces.net/School Diggerhttps://www.schooldigger.com/State & Localhttps://www.statelocalgov.net/GeoMetrxhttps://geometrx.com/Social Explorerhttps://www.socialexplorer.com/Justice Maphttps://justicemap.org/Google Earth / Google Maps / Street ViewFree Map Tools – Elevation Finderhttps://www.freemaptools.com/elevation-finder.htmCensushttps://www.census.gov/https://www.census.gov/programs-surveys/ahs.htmlhttps://data.census.gov/https://censusreporter.org/https://www.census.gov/quickfacts/fact/table/US/PST045221City-datahttp://www.city-data.com/Socialexplorerhttp://www.socialexplorer.com/Costarhttp://www.costar.com/Colliershttp://www.colliers.com/en-us/usDepartment of Numbershttps://www.deptofnumbers.com/Data USAhttps://datausa.io/Bureau of Economic Analysishttps://www.bea.gov/https://www.bea.gov/itable/Bureau of Labor Statisticshttps://www.bls.gov/St Louis Fedhttps://fredblog.stlouisfed.org/Zumperhttps://www.zumper.com/NMHChttps://www.nmhc.org/research-insight/quick-facts-figures/Apartment Listhttps://www.apartmentlist.com/research/category/data-rent-estimatesStats Americahttps://www.statsamerica.org/town/Reventurehttps://map.reventure.app/dashboardSafety/Crime StatisticsSpotcrimehttps://spotcrime.com/ Family Watch Doghttp://www.familywatchdog.us/Neighborhood Scouthttps://www.neighborhoodscout.com/City Protecthttps://cityprotect.com/ Crime Mappinghttps://www.crimemapping.com/ Walkability Walk Scorehttps://www.walkscore.com/Checking RentsRentometerhttps://www.rentometer.com/Apartsments.comhttp://www.apartments.com/Apartment Guidehttp://www.apartmentguide.com/Craigslisthttps://www.craigslist.org/about/sitesZillowhttps://www.zillow.com/

Quote from @Joe S.: What’s your definition of an expensive repair?

Awww, Thanks @Joe Delia!

STR a suboptimal option in this market due to restrictive ordinances.Purchase price: $1,260,000 with 11% down @6.75% fixed 30 yrTotal Rehab costs (labor + materials) thus far: -$70,390Cashflow to date (NOT including Rehab Costs above): -$60,237Projected Cashflow: 3.1% with 3 LTR tenants Wanted the group’s expertise on options as I am considering parting ways with this property given the number of leaks that have come up in this relatively young property.1) In 2025, 1031 into another (potentially more units) multifamily at least 20 years old.2) Investigate leaks/Stabilize and proceed with original plan as LTR and accept uncertainty related to potential future leaks.3) Proceed as MTR (hospitals and NYC nearby) so that can intervene on issues during vacancy periods.

However that is also just natural in that more active members are going to be those younger investors that are in the high leverage growth phase and are asking questions and seeking help because they are new at it, vs many of the investors that have already built their larger portfolio and have consolidated it, now have low leverage and are just enjoying the fruits of their labor don't come on as much other than to help others since they don't need to ask questions as much. 

Squeezing the architect costs to save a few thousand is pennies as compared to the hundreds of thousands coming by way of costs for construction (materials & labor), filing and inspection fees, etc.

Just like it would be difficult to find a local team member at an average labor price to be a web designer/coder, social media manager, and researcher, it's also difficult to find a VA who can do it all at a quality level.

You're welcome to donate to my Venmo - otherwise - enjoy the fruits of my labor :)  1.