That's determined by testing both inside and outside your property.

@Chaim Kernkraut, your experience, comfort level, and risk acceptance will determine the answer to the question. 

Hey Everyone,I've been walking properties for months now, diligently running numbers, and preparing myself to begin making offers through my agent.Since I'm determined for 2019 to be the year I finally break into the game, I'm wondering if anyone has any recommendations for reputable contractors in the Albany area.

Needs of the Air Force really is going to determine where you are stationed.  

Before hiring a PM I looked into starting my own PM business and put together a quick business plan through which I determined I would need 60 units minimum in my market to make any money and 100 units plus was necessary to start making good money.

Make sure to have 3 quotes before you buy the house to determine the actual cost plus 30% for hidden cost.

Make sure to have 3 quotes before you buy the house to determine the actual cost plus 30% for hidden cost.

People buy the land many sight unseen, many internet sales, many out of state or even country because the land is so cheap and remarkably beautiful in the painted desert but so remote that only an artist like me wants to keep them all and have retreats for others too but I will sell some, upfront and disclosing....so when they realize or figure out it's not so romantic to them after all, unlike me, they stop paying taxes and let it go and the same lands get recycled over and over... 

I find it's best to use a combination of cap rates and residential comparables in my market, I use the residential to justify the building and land values, from there cap rates help determine if the higher price can be justified.

Their rates are typically high (12% or higher) depending on where you live, they will charge points, and your rate will largely be determined by your level of experience and how much money you contribute to the project personally.I'll let others with more experience chime in on this.