Keep in mind cost/sf varies GREATLY based on a number of factors so unless you're getting bids based on your city-approved drawings, these numbers should only be used as "ballpark estimates" for analysis purposes. 

This collaboration underscores the importance of strong partnerships and local insights in identifying and negotiating profitable real estate opportunities.

I strongly recommend it.

Do you invest solely based on appreciation?

You should be getting $1,800+ in rent based on the duplexes we manage. 

Hello BiggerPockets Community,I'm a new out-of-state Real Estate Investor based in California (I work as a SWE at Google as my W2) and I'm working on brokering a potential deal between friends and a prospective landlord.

This collaboration underscores the importance of strong partnerships and local insights in identifying and negotiating profitable real estate opportunities.

They are by that very nature going to have higher risk based just on that fact alone. 

This collaboration underscores the importance of strong partnerships and local insights in identifying and negotiating profitable real estate opportunities.

But again, I go through the questions about and decide based on the level of stress/work, cash flow utilization and my overall goal for that rental and make my decision.