I see some stuff syndicated in the NNN space that I would not touch with a ten foot pole but I have been in commercial about 20 years and reviewed millions of properties in that space.

Your rehab costs, this is the hardest to calculate, will depend greatly on location I did a mostly cosmetic rehab in dc was 160k did a similar project just a 1.5 hour away it was 60k, materials assuming your not doing something super high end seem to be 25-35k for a a sub 2k square foot house, again labor is tough to calculate, but ask around your local market what people are generally paying for things4.

Thanks for all the wisdom you and others have given the posters and lurkers here on BP.This sums up my sentiments as well.There are so many of us lurkers here just sitting at the foot of the masters, and we are learning. 

Residential space would bring in more per square foot.

Then, what was left on my HELOC was able to be paid down with cash flow as I took my foot off the accelerator.Hope that helps!

You can look at other recently sold houses in the area to see if the dollar per square foot cost of the one you were looking at lines up with what has been selling in the area recently. 

I sold my California properties 7 years ago and don't care to ever step foot in the state again. 

I am trying to get an asset based loan my fiance and I don't have the best W2 incomes but we have enough assets to foot the bill. 

While I think the owner with sell for ~$75/foot, that makes it in the $2.1MM range and it has been vacant for 1 year. 

Will it go up linearly?