$50/sqft for a full interior and functional update, $100/sqft for a full gut down to studs, $150/sqft for newcon .If these numbers make sense I would want to visit the property for a true estimate, where it would be line item work scope development. 

He is FAR FAR ahead of you!

All the projects that I visited, 3 so far in Dallas this year, have been redone as projected, and proformas are in line with expectations.

Part of me wants to turn down the application due to the concerns around this criminal history, the other side of it is it is a tough market currently and slow season ahead and insisting on rejecting the application would likely create serious rifts with my property managers (whom I have generally been fine with otherwise) as they are pushing back on rejecting due to criminal history from years ago.  

Someone I met while visiting runs a construction crew up there so was wondering if anyone could shed some light on the market up there and what they are seeing.

Hi Tony:The best way to handle is to visit the city planning department which zoning is usually part of to see if a variance is granted, and examine the plans filed.

Sometimes the less sexy route of just investing in a solid area, taking care of it and having solid tenant is going to put you ahead then people trying to chase cash flow and things that might not exist. 

If the rental is more than a day trip to visit schedule some time to inspect the rental in the first 1,3,6 months.

In the latter two areas you can even do some STR, not with tourists but visiting nurses, etc.

Hi @Jacob GuttmanCongrats on your job and kudos for planning ahead!