No way does it cost $70k to replace cast iron drain pipe, even on a slab - that's ridiculous. 

The only way spending wouldn't be ridiculously high is if we had deflation. 

But, given that it's 7400 sf, includes removing the pool and that it may be block construction (given the location), I don't think that's ridiculously high.With those details, I likely would have guessed $35-50K... 

Also Florida has ridiculous insurance rates so that makes it even more difficult for that area.

I did a crime search, and it seemed sketchy in most areas, but I looked on the MLS and prices were ridiculously low.

Your number work well even when accounting for all the expenses, cap-ex, and debt service the return is ridiculously good.

@Matthew Buttner  I get that low first time price often from CL then the next job is ridiculous.

Ill shoot you a PM and we will set something up.Oh yeah, Mclane Stadium is ridiculous.

Property in Orange County is not nearly as expensive as the Bay area but RE prices are ridiculous in comparison to other states.

But again, the actual licensing process, course and testwork was ridiculously useless...