None of the other top performing markets (based on appreciation) have similar infrastructure in place or coming on line.

Values the advantages of a high-performing team.  

There is a property analyzer tool you can use here on the site that will give you more accurate numbers.

So you have a potential for a financial loss.Also, if a broker brought you this deal and you can't perform, it will hurt your credibility and possibly never getting a deal from this contact in the future.Now all this being said, I have closed a couple large multifamily deals where I didn't have ANY money raised at the time I went UC.

The cost per sq ft is not accurate enough to kill the deal.It is used, as you are as a starting point for consideration.I suggest getting some hard numbers quoted on the big ticket items ie, HVAC, plumbing , and electrical and the rest is relatively cheap.Pricing per square foot works better with new construction, anything can happen in a rehab.

Most investors budget 8% for vacancy and 8% for maintenance which I think is fairly accurate to cover maintenance and rent ready cost associated with vacancy.

I don't know as much about FL as I do Boston and MA, but my research into south Florida and raising children pointed me toward:Southwest RanchesWestonCoral SpringsDavieCooper CityI focused on desirable school districts and these were top performers.

There are certainly more aggressive, and more accurate ways, but this is not a crazy way if we just want to (for mah fellow former Marines out there) "Keep It Simple, Stupid."

I performed the programming behind this one: estimatingrepairs.net

I plan on basically rotating between each unit for a short time period during which I will perform the interior updates and then move out and rent when done.