Maybe, the house is worth only $100k and he is blowing smoke.After you look at enough properties you should be able to get an approximate value from the internet and by looking at the outside of the house.

By any chance, do you know where (in the internet) I can get estimated replacement costs in the DC area? 

today's thoughts areA) cost segregation depreciationB) TAX-FREE 1202 or 1031 exit strategyB) legal substructures like garages, storage units, ADUs etc.C) FREE WiFi/internet for all tenants

Vinly flooring, black appliances, fully furnished, washer dryer in each unit, and Gigabit internet are all items needed. 

Finding real motivated sellers is a hard task. 

Props to you for multi-tasking lol!

I'm managing myself for now, but talking to property manager now after going through eviction :)Gross Income: 2915Expenses : 477 (Elec, Water, Waste, TV, Internet)Mortgage: 1387Cash Flow: 1051What I have not been accounting for is repairs or cap ex.

Gross Income: 2915Expenses : 477 (Elec, Water, Waste, TV, Internet)Mortgage: 1387Cash Flow: 1051 Lessons learned?

@Curtis MearsI have had contractors do work for me on a particular task but I don’t leave it open ended.

My only advice here would be to triple check your numbers and make sure you understand all that acting as a owner builder GC requires, including what to have in your sub contractor agreements, who to use, what specific tasks and items should cost, etc.