Imagine the ARV being $15M and the Cost of repairs, $200K.

I’m seeing low cost properties but in pretty rural areas.

They have costs to do deals with them.  

You get grandfathered into the codes that were in place at the time, you get the old setbacks, you don't pay an architect, engineer, city and permit fees, plan check costs, school fees and other costs that will not come with an existing house.Not saying that you can't build new for less than a remodel, but not usually when you add in all the costs above. 

What did it cost?

Airbnb costs what is costs and it protects both parties.

Costs are also a bit high right now and it’s a substantial investment, likely $1000s per day to run at a scale that would be useful to the community.

I paid for a cost seg study on my only str property.

Bridge loan rates have ranged from 8-12% depending on market conditions and the cost of capital.

I know personal letters would take more time and cost more money, but I would rather send out less of higher quality then more at lower quality.Having said all of that I would recommend that you tell everyone you interact with that you are a real estate investor and tell them what kind of properties you buy.