For example, if the city see a finished basement, even if it is unoccupied, they will threaten to fine you and impose violations if you don't return it to its unhabitable condition (particularly if there is, say, a bathroom there)--I have no idea of the legality of this, but I have had this occur to me.In short: I've come to the conclusion that the city has no interest in you doing this, and will attempt to actively impede your progress at every step.

Purchase price: $455,000 Cash invested: $7,000 House Hacking Owner Occupied * In- Progress *Asking Price: 459,999 Rehab: $5000VA Loan 0% Dow* SELLER PAID CLOSING COSTS AND $15K IN REPAIRS, NO MONEY DWNRENT BY THE ROOM STRATEGYPITI: $3060Rent: $3500 ($875 per room, utilities, Wi-Fi, and Security System)* Current Project: 300 SQFT ADU *ADU Rent Estimate: $1800 (Includes Utilities, Wi-Fi, Security System, and private entrance, yard, and parking)Construction Budget: $20k Structure is already existing, more of a conversion What made you interested in investing in this type of deal?

So, as you can see, there was a progression from where we started to where we ended up.

From an appraiser's standpoint, do they factor in materials and build quality when evaluating these new homes, or is it just a numbers game (e.

I already have loans in progress with Dominion Financial and BRRR loans. 

I'm in Michigan.Would anyone care to share how they would arrive at an asking price without just asking potential buyer's what they are willing to pay, or if a developer yourself, how do you evaluate purchases.  

Keep us filled in on your progress.

You can buy in the path of progress and wait for civilization to come to you.

First I thought cheap properties so no problem with me financing them myself.Then I thought there is no long term sustainability in cheaper properties.Then I looked at more expensive markets and started evaluating turnkey providers.  

@Zach Stiegler as @Jay Hurst posted the Fannie Mae down payment requirements they are progressively higher for a reason.