Proposed a deal where I would give a 4.5% commission, and I would be getting a 20% commission from the listing side since I will be a co-agent/finders fee.The cap rate in the lacey area is anywhere from 6%-8.5% depending on a lot of variables, needless to say, it is at a higher cap rate than King and Pierce county.From an 8.8% cap rate, and considering the neighborhood, leases, tenant base, rent roll, cap X for renovations, and comparables, commercial brokerages valued ours anywhere from a 7.5-8.25 cap rate.Valuation of$420,000 Annual NOI / 7.5% cap rate = $5.6million$420,000 Annual NOI / 8.25% cap rate = $5.09millioncomparbles in the market show rates at 7.25%-7.75% cap rate.

Then you can start to play around with the variables to see what increases your views and or conversation rate.

I would highly recommend going as turnkey as possible as heavy reno work from afar though possible really throws in a lot of variables that can go wrong.  

Jordan,There are so many variables to building a house no one could give you a blanket sq foot price to cover your build.I build all over the country and the prices from one county to the next will vary.I would encourage you to do the hard homework.

Too many variables to be able to give a qualified answer.

@Mia TrasoliniThere are actually tons of variables but I'm familiar with the areas you speak of since I'm a San Diegan / investor myself.Couple of points to consider1) If you're at a bottom of the real estate cycle - sketchy areas can improve rapidly, if you're near the top, the former sketchy areas are now gentrified.

Variable costs don't follow a monthly savings plan so it is important to have reserves. 

Way too many variables here to give a good answer. 

@Tarcisio Mora  There's too many unknown variables for me to say where the "best" place for you to get a HELOC would be. 

There are variable costs such as what a low/med/high end kitchen (Formica vs quartz, home depot kitchen set vs custom, white appliances vs viking, etc),  quality of tiling and fixtures in bathrooms), and then hourly cost of labor and the estimated days it will take to complete.