Should I just give her a price based the worst case scenario, a total gut job remodel, since we have to assume the worst if she doesn't want us to see it?

Trust your instincts, gather as much information as possible, and make informed decisions based on the current market conditions.

I have been speaking to the folks at Hamza Invests and they are confident that it can be delivered for much less based on my land costs but I don't want to fork over the money for their program and find out my instincts were right. 

@Jake Andronico I've considered selling, but all of these houses I've already gutted, fixed up nice, and have good tenants. 

I bought for $49,000, put $140,000 into full gut rehab, it’s worth over $300,000 now and the renters have paid over $30,000 in rent.

New roof, new well, new septic, full gut renovation on two of the three bathrooms, new kitchen (cabinets, appliances, fixtures, counters), new exterior doors, and solid oak floors throughout.

If you're using regression to predict how much a market would appreciate by I think that would be a much easier regression task then predicting how inflation would increase the price of a gut rehab (increased parts and labor prices due to increased cost of manufacturing and increased cost of living respectively). 

@Deonte Hill-  thanks ...trust your instinct ....yes - massive red flag . unless you have unlimited cash to  address  unlimited issues - be wary 

This property is already gutted to the studs so everything will be newish, but 30 years is a long time. c.

Hi Everyone, I'm working on a gut reno in Newark NJ.