I agree each property will have components of different age, but doesn't their estimate assume the best case of brand new components with a full remaining life?

If there are no comparables in the same condition inside the subject's project, then you can utilize sales from a competing project.

At this point in your life, you want to keep your options open rather than boxing yourself in IMO.

If the house is in liveable condition just in need of update a VA loan is still a possibility.

In current condition it would definitely fail.

I reckon there's ALREADY a Duplex where you want to live, BUT, it's in TERRIBLE condition, so the Seller would sell it at a severe discount (say, $350k) to avoid those rehab costs, and their circumstances are such that it doesn't matter to them about the Buyer potentially being able to turn it into a $600k Duplex once rehabbed.I reckon: Look for your forever home (but one in pre-rehab condition) - NOW!

By the way, he owned a substantial amount of shares since he inherited them from his Grandfather who worked there all his life as a senior engineer.

In my previous life, I was a biotech researcher.

no such thing as late to real estate investingAs with just about anything in life those who are determined and work at it on a daily basis and the farther ahead than 99% of the crowd who says they want to do things

@Jake SalibaYou are right, at this point of my life, because of the little amount of money I bring to the table on a monthly basis, purchasing a multifamily might not be the best plan of action.