excluding land and soft costs, Vegas is $75 PSF.

If you're really skilled at door-to-door soft selling to all kinds of defensive people, then this might be a good route, but in general I wouldn't suggest this strategy for NYC.

Rates are set by Freddie, but their are things that can lower rate such as DSCR, Prepayment, Leverage.Prepayment can be a standard step down (i.e. 54321 on a 5 year deal) soft step down ( 32111 on a 5 year deal) or YIeld Maintenance.  

$685k purchase price$350k rehab$1.5m ARVI would be lying if I said it wasn't a little scary to be carrying the monthly hard money fees I am carrying and knowing how soft and fickle the top end of the market can be.

., but the Broker can't brush you off.  

You probably don't want to pay for more than 25% of the final sales price for the land.You need to have a solid idea of how much it costs to build the vertical construction per square foot and how much development and "soft costs" per square foot.

I'm thinking that your numbers and those of other respondents doesn't include any soft costs (design, permits, utilities to the parcel, etc).  

Maybe $180 to $250 /SF, including soft costs, but excluding land is not so good? 

The wood floor inside is also slightly soft.

if not and the sheetrock isn'tsoft - scrape , spray bottle bleach , let dry ,skim with joint compound & paint bad areas with Zinzer B.I.N and paint with semi gloss ceiling fans only workif they turn them on, semi helps repel the moistureIf the sheetrock is soft, rip it out and replace, the picture doesn't look likeit's serious enough to need that though.