Since it would take 12 to 36 months to build the property anyway you might be able to get a lender to finance based off of the pro forma value of the after completed duplex at a substantial rent premium to whatever your underwriting today.As mentioned about $96 psf cost to build seems wildly low considering the market supply issues on materials and inflated demand do to low cost of capital and now congressional fiscal stimulus and tax programs.

Also, appraisers usually take both into account (they also look at rebuild cost which is how insurance companies value the property they insure) anyway but lean heavier on the comparable sales data to determine their number.So really the only benefit you would get from an income based appraisal is if whatever you are buying is has wildly higher rents and much lower expenses for some reason.

Interesting topic.In my units it's gas but it's common for my area except the dryer is electric.I have some tenants that love electric and others love gas and hate electric.It will be based on their past individual experiences dealing with utility companies on how they feel one way or another and what they grew up using.So I just go with what's common for the area.I do agree with low income tenants that have wild fluctuations in income that they will try some risky things to get by sometimes.Higher income tenants do not tend to think of doing such things as much is my experience.

Wild statement. 

Wild snakes living in their "stuff".I wholesaled the property to another investor for 132k and made that for about 15 hours work.

hey @Chris Newman I do wild foods foraging. 

For me when a wholesaler brings me a deal I only want 3 things:1-address2-price3- picturesRehab estimates, ARV estimates, and all that other stuff are almost always wildly inaccurate when estimated by wholesalers.  

Some of their members are wildly successful.

The problem is it's my mother in law that's the wild card.

Now I know depending on location numbers vary but if you had to take a wild guess how much would it cost to jump into real estate and begin a passive income.