======================[1] & [2] What is trending in student housing right now as popular--maybe base your plans on that (unit mix, colors, amenities, etc...). [3] Spending that kind of money (almost full construction) without a multi-family architect's suggestions might be pound foolish penny wise.

If it's your first deal, I'm a big fan of partnering so you not only make a pretty penny but you'll also get a step-by-step training on the process for future deals.Good luck!

Old pre-existing pipes or existing copper wire to me would not count as building materials but you may get a liberal claims adjuster to see it in your favor I wouldn't count on it. 

Before you invest a penny you need to devote at least 50 hours to learning how the business works.

Investing every penny I have/save.

Eventually, I sold the Ohio property and began investing in CO. At

THAT'S WHAT OUR AGENT WAS SAYING AS WELL - DEFINITELY WORTH LOOKING INTO - I WORRY ABOUT WHAT THEY COULD AFFORD IN THE AREA BASED ON THE LITERALLY PENNIES ON THE DOLLAR THEY ARE CURRENTLY PAYING NOW FOR THE LOCATION THEY'RE IN...BUT NOT MY CIRCUS, NOT MY MONKEYS AS SOME WOULD SAY. 

I work in commercial construction and for balconies (which would be a similar condition) we use a traffic coating (water proofing) over the top of the concrete and a drip edge on the perimeter at the underside of the balcony to prevent water from rolling back in.

You haven't had to save a penny.

While you're looking at your current situation, be sure that you don't step over dollars to chase down pennies.