Unfortunately, there is just so much unknown right now.

In an unknown future market I am stumped on what the smart move is here.40 yr old Fresh out of divorce court with little left of savings, living with relatives. 

Any advice and eye pointers into what I’m not seeing is highly appreciated, of course there are a lot of unknowns, and this is just a deal analysis, but from the rent perspective it.

They do not have experience through multiple market cycles, so verifying how people will truly act in adversity, is unknown.  

I attended NAHRO conferences, macro and micro real estate subjects taught or discussed by experts and specialists unknown to the guru world, no one will learn multi-family off the internet or out of anyone's book like they may at such conferences.

Nik, I'm not sure I understand the question, but if I'm on the right track I would say that unknown issues.

@Wesley Sherow a very real concern that is not mentioned is the scope and eventual cost of the total rehab.One of the most challenging projects I ever did was a rehab that converted a 100-year old five story concert building on Seattle’s waterfront to a storage facility.It was built and served as an ice plant that produced blocks of ice that was loaded in ships holds to transport food stuff to other parts of the world.This project and any major rehab of an OLD building carries much greater risk than one designed from scratch.In essence, the entire building is a “hidden condition”, which gives the general and its subcontractors a very wide lane to discover and charge for many change orders to cover the surprises they find along the way.You would be wise to use higher estimates for known costs and add generous contingencies for the unknown ones you are apt to run into.

The bulk of the costs are all the many vendors: appraisal $700 underwriting/processing $1000 settlement $500-600 title -guess not knowing location $400-600 notary $200 recording $50-100 transfer tax unknown $ varies greatly $40 CPL $70 wire   then points or a prepay

The outputs must reflect the investment strategy, the property type, the market, future risks and unknowns.

Am I being cruel or am I justified, considering the unknowns?