Being in a historic district will probably be the draw, and prospective tenants might be looking for something with character instead of a cookie-cutter rental unit.Choose paint colors that work with the trim, floors, cabinetry, etc.  

An experienced attorney will tear through a cookie cutter LLC like tissue paper.

I buy mostly in cookie cutter communities with plenty of comps, so all my refis appraised at fair market value; I recently had a $187k purchase appraise at $340k.

The limited inventory available of duplex/MF falls in 1 of 2 categories 1) old, poor quality and potentially rife with problems that may persist over time 2) structures that were not originally intended to be multifamily but have been modified/rigged in a feeble attempt to be MF. 

You might consider not allowing rigs over 10 years old.

@Paige A.Stock market is rigged as evidenced by this gamestop debacle.

Rural land rig oil field trash is one thing (I used to be oil fied trash so im allowed to say that lol) but a desirable place by the beach, lake, or ski mountain is never going to be even close to that.

For smaller projects, I generally don't calculate out $/sqft. because the rehabs in Philly are pretty cookie cutter.

My problem is that he is using comps based on the county measurements, and I fully believe this mismeasurement on the county side would apply to the comps as well since this is a planned community with cookie cutter layouts.

As you mentioned, the 203k isn't a cookie cutter deal and comes with challenges, but that's honestly what makes it special.