Since Stamford’s market supports higher-end finishes, who is your target buyer, and do you really need top-tier finishes to maximize ROI? 

However, the success of this approach hinges on consistent appreciation, which depends on demand.The Key Factors to ConsiderPrice Dynamics: Prices are driven by the balance between buyers and sellers.

They give the same $12k in closing costs to new buyer, $24k in realtor commissions, tack on say $4k in late fees, foreclosure costs, etc etc etc  so they “net” $360k.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

Yes first-time buyer DSCR is actually fairly common, especially here in Southern MI. 

I think it will add more competition to the rental market and the buyer market specifically up in N Phoenix, Deer Valley, Desert Ridge, and then up into Anthem - but will bring up value throughout the county. 

@Casey GrahamAggregating 100 doors in a growing market could create significant value for an institutional buyer.

Proceed with caution—Buyer Beware!

These are done between the buyer (you) and Seller.The situation that is most common to find these properties are in a foreclosure proceeding, or pre-foreclosure. 

I'll be offering a 3% commission for an agent to bring me a buyer for this build.