For a lot of things you can just look up material costs and assume the same for labor. 50% material and 50% labor holds roughly true for the entire project, at least for me here in Milwaukee, your labor cost will probably be higher in the Bay Area.100-125k spread would be tight, even for me here in Milwaukee.

If you use hard money loans or fha 203k loan or some other construction type loan then you will need to be focused on the finance charges and shop around.

This is even true for student debt.I recommend the old-school, proven technique of paying off all debt.

@Ken Halef very true that's it hard to find something worthwhile on market these days. 

This will give you extra cash flow in the first year and/or the early years to maximize your tax benefits and make your dream come true.

Is it true for everyone all the time?

As such, many aren't incentivized to advise you along that path (sad but true).

Bottom line, if it sounds too good to be true, it probably is.

Quote from @Dongzi Wu: I heard Chimene's personal bankruptcy has been denied, the receiver Charlie will have a meeting with victims early September, make sure you contacted Charlie and he will notify you about the meeting.Do you know if true I thought next meeting to decide that was Sept 6 

Did you also try to become the Mayor on Yelp of the local coffee shop when you were younger?