All 1 bedroom, 1 bathroom units. 2 units have laundry in them.

Hey BP Community, Recently when I have been observing others analyze multifamily deals I keep seeing these two terms Market Rent Discount that they are withholding as another reserve account for the property, along with another reserve titled "bad debt". 

Roofs 25 yrs if new now, kitchens need remodeled every 15ish years to keep values up and rents up, same with bathrooms.  

I became friendly with a builder who is willing to sell me his newly built condo at a “discounted rate”.

We finished the basement adding 1000 sqft of finished space to the house. 4 bedrooms, 2 bathrooms.

And again at the risk of sounding naive & being real honest here... we know nothing about building, seemingly, it wouldn't be too ridiculously expensive to build say a rectangular 1500 ft² house on a slab where all you really had was an open kitchen to living room and then on either end of that a master with a bathroom other end 2 bedrooms with a bathroom in between.The main thing which, I know is probably the most cost (and this is going from an amazing airbnb I stayed in with girlfriends called the skyhouse, which I zillowed by the way worth $650000 our budget only about $350 K)We want both sides of the big main room (kitchen & living room) to have  Florida ceiling collapsible windows so that you can have a complete open field in the good weather.A pool would be amazing but can come later.HELP???

Not all, but most full service PM's charge a % on the maintenance or they get a discount from the vendors but charge the full cost, either way they make their money on the actual service call. 

Updates included:-Paint & white trim throughout-Laminate flooring throughout first floor-All new kitchen cabinets and countertops-Upgraded kitchen appliances -New carpet in bedrooms-Laminate flooring, new toilet, new vanity in bathroom-New water heater and HVAC Outside of the carpet and HVAC, I completed all the work myself and with the help of my Dad.

Updates included:-Paint & white trim throughout-Laminate flooring throughout first floor-All new kitchen cabinets and countertops-Upgraded kitchen appliances -New carpet in bedrooms-Laminate flooring, new toilet, new vanity in bathroom-New water heater and HVAC Lessons learned?

@Steven Cobb direct capitalization and/or discounted cash flow