He brought about 40% of the cash to the deal along with the labor and I brought the remaining 60% with some personal labor (mostly yard work.) 

Then add some more money on for the unplanned, add in your cost to sell and to buy (transfer tax, real estate tax, utilities) As far as estimating, it isn't easy since there is hardly a way of knowing what multiple contractors are going to tell you .. but I go online and look at the prices of certain things, then add a boatload for labor.

@Joe Cantanzriti would like to talk with you more Joe

Thanks for the encouragement Joe.

@Joe Henry@Jake StenzianoHi JoeYou should have access to the entire structure and to the apartments.  

Constraining permits and inventory while input prices (land, labor, materials) rise is a recipe for smaller margins and more dumb money and fewer good developers building.  

@Joe Fornasiero @Patrick Liska

Originally posted by @Joe Cantanzriti:@Skip GilliamIf the numbers work for you at that $200,000 purchase price, then it most definitely could be a good idea to buy new and rent out, I just wouldn't look at the possibly of appreciation up front and if makes sense factoring in zero appreciation then it could be a good investment. 

My question is does it seem likely that if I invest my own money and labor would her increase in profit be enough for me to get a return on my investment?

Thanks for the response joe.