The answer I would provide depends on the neighborhood, not so much the property.

@Jason Mayers it all depends on your situation.... if you own a home with equity, you can take out an equity loan.

Not knowing your local market but I would guess $150-200/sf is a more realistic number but it will vary depending on what your specific needs are. 

It also creates some additional costs (setup, maintenance, tax reporting) and will limit your financing availability (more expensive commercial loans).Depending of your threat level and the amount of asset that you are protecting it may be worth the cost.

Those numbers sound pretty accurate on a multi family you maybe able to get something in the high 5's to low 6's at best but that depends on a few variables of course 

The tariffs are costing materials to go up for sure but on average its not a huge amount because its very material specific so it could be low or high depending. $450/sf does seem high to me but not that high for a $2mil + price tag.

Locally in NM though, I am interested in finding properties to BRRR or flip, depending on how the numbers work out.

@Ken Nyczaj this is completely dependent on the scope of work involved.

It also depends on your position financially and how much you want to leverage.

A commercial loan right now is 70-80 LTV (depending on what it is used for, and by that I mean if it is cannibus related it is a 50% LTV),  around 6% (if you have a 650 or above), for 15 years (this could vary).