Whether that materializes or not is unknown but that is what the CAP rate compression is telling you.

The roof is old, not sure how old, but it is a metal roof-typically good for 50-70 years.

Despite his past, he has some pretty good material out there.

You agree, through your use of this service, that you will not use this Forum to post any material which is knowingly false and/or defamatory, abusive, hateful, harassing, obscene, sexually explicit, threatening, invasive of a person's privacy, or otherwise violating of any law.

Every island is different, however I do agree with you at times there is a lack of talent and material.

More importantly, what if they claim an ownership interest due to doing the work or providing materials?

I recently was looking at a metal yard in Moroni Utah. 

After all documents and materials have been delivered to PURCHASER, PURCHASER may cancel this Agreement for any reason, at the sole discretion of PURCHASER, within sixty (60) days after receiving all documents and materials from SELLER.

BP Diary BookThat was a mostly new construction project completed for around $60/sq. ft. with middle to high end materials in a nicer area in Atlanta. 

After reading 40CFR PART61 SUBPART M, I have come to the conclusion that this material can be disposed of as non RACM (regulated asbestos containing material) if removed and handled properly.