With so many investors out there buying properties i was just wondering what rates others are getting and whether or not they're going through the bank route.I think I am in the 4.25ish on a 15 year note that adjusts every 5 years. 

Your best bet in this situation is to keep heat on so that the property does not become damaged.You have already been told this, but your biggest mistake was letting the issue drag on so long.

Continue to research your market and see what the competition is charging for similar units in that neighborhood and don't be afraid to adjust accordingly.

However just like a car dealer if he can't move his inventory he WILL adjust his price or he won't make much as a salesman.

Unknown to me at the time, the underwriter found an error in the appraisal so shortly after agreeing to the adjusted price we were notified that the appraisal was revised up to $97,000!

Unknown to me at the time, the underwriter found an error in the appraisal so shortly after agreeing to the adjusted price we were notified that the appraisal was revised up to $97,000!

Unknown to me at the time, the underwriter found an error in the appraisal so shortly after agreeing to the adjusted price we were notified that the appraisal was revised up to $97,000!

Lastly, consider reaching out to an insurance adjuster to have them review your policies every so often.

my thoughts are that as long as you have the cash or can get financing to fund the soft costs and hard construction costs then i think you would turn a profit. as you said, your betting on avg house cost, hopefully you've done due diligence to check that but ultimately if that area is in a housing shortage then I think the market will eventually meet or exceed 

You are correct, anything below 750 sqft will be your best bet.