If you wanted to get real, real rough, you might subtract 50% from the cost of construction per square foot in your area, since getting a house framed and dryed in is going to be at the more or less halfway point of completion.

It is in a 50 year old condo and the concrete floors are dry. 

I would like to operate in the nicer suburbs of Cleveland/Akron markets with ARV in the $150-$200k range but the REO inventory has all but dried up to what looks like a profitable project.  

Here are some of the ways I have found to cut the costs, maybe if someone else is in the same position these ideas might helpPart of the bid was putting a dry system under the building (about 2500 sf exposed because it is built on a slope) the cost was 35k for a dry system but the city will allow us to install a fire barrier which I thought would be hardi board ($32 a sheet), but they recommended a fire rated exterior drywall that is $17 a sheet.

I recommend you have an agent check it for you so you don't need to pay the extra expenses for being an agent.Plus, the MLS is pretty dry nowadays.

Plumbing - after 2 years the traps will have all dried out which can lead to problems with critters getting in the pipes as well.

Looked ok on the outside; but we spent thousands on environmentals (including phase 2), and found PERC as there was a dry cleaner there before.

Soft costs include paving, piping and dry utilities.

From my perspective, the MLS deals have just about dried up, but they can still be found.

According to Trulia's chart, prices peaked at $785k in about Sept 2014 and are now down to $705k, a 10% decline.http://www.trulia.com/real_estate/Irvine-Californi...From what I've heard, new home developments are getting hit the hardest now that Chinese money is drying up, with lots of price concessions and very little activity.