Areas like LA and NY will have higher materials and labor costs compared to places like NC or TN.You may be ghearing $350 pSF and that may be accurate for new construction here in LA, but likely for homes around or under 1,000 sf.

You can really tell a story, lol.Maybe this is why I'm so skeptical about ra-ra and easy answers to extremely tough questions we get here in the forums.

Great for investors, he charges for labor and you pay/supply the material.

New construction is expensive with labor and materials costs at a peak.Where are the opportunities these days? 

Direct deposit to your account can be an issue for problem tenants (partial payment is tough to stop). 

What is your experience in your market and if you are doing remodeling or building ground up, how difficult it has become to find building material?

You want to know they can FLOAT the business in tough times with a personal guarantee.

It's nasty, it's ugly, but the material and the technology have been proven since 1945 in sanitary systems.

Then again, those #s are tough to come by in my market so please take this with a grain of salt.In your shoes, I'd run comps to make sure this is what similar properties are selling for. 

While attractively priced, It's 24 pgs of proprietary legal doublespeak that basically guarantees I pay him $35k in commissions whether we close our not, warrants and forever and holds harmless his buyer if hazardous materials are ever discovered on the property and blah blah.