I think ground up construction would be north of $200/foot.

It may soften a bit once we move out of the complete lockdown phase, as many sellers are waiting for that to list their properties, so there may be a glut around mid summer, and with the increased inventory may come slightly lower prices, although this market has literally never gone down significantly including during the GFC.

Cuomo on Monday insisted that his executive order halting evictions is enough to protect tenants across New York state amid the coronavirus pandemic.Affordable housing advocates have urged the state consider suspending rent payments for certain tenants due to the spread of COVID-19, the disease caused by the coronavirus, which has shuttered businesses and ground the economy to a near screeching halt.

Others are giving you their opinion grounded on their view of what is happening and how they would operate (which by sheer posting here is invited). 

I also have some existing contacts that may make the transition a little easier.For multifamily I know CA may not be the best market I am open to looking into other markets once I get to the market research phase. 

If it's just wood sitting on directly on the ground, that would be a lot harder to work/repair then a 3 foot deep crawl.

We are also long distance investors and have found that having a good team on the ground is most important.

Ground water takes the contaminants into neighboring properties.

Currently, I’m in the research phase of the REI timeline, but I came across this property:https://www.redfin.com/SC/West...I did a quick calculation and the numbers were incredible. $15,000+ annual cash flow and over 30% ROI?

Pollution to the ground water could impact neighbor's wells.