I got involved to relieve him of the payments.

You could simply perform RUBS in an Excel Spreadsheet by dividing the total bill by total leased square footage and then billing back on a per square foot basis to each unit.

I have a better chance of getting my foot in the door if I give an offer closer to market value and go from there.

His company is footing the bill for 3 months, so there are certain rules he has to comply by.

I’m primarily starting with wholesaling as a way to get my foot in the door of real estate and probate definitely seems to be a route I’d like to explore.

Thanks for all the helpful information guys, this definitely helps me get started on the right foot!

Purchase price: $175,000 Cash invested: $50,000Duplex, 1,800 square foot located in bradenton FL, good working class area very easy to rent with expected appreciation and high rents.

Cost of Multifamily ConstructionFrom Fannie Mae (inquire for packet)According to Fannie Mae, new apartment construction costs on a 1-3 story apartment building have gone from the national average of $148 per square foot in 2013 to $192 per square foot in 2017.

I just found out from an architect that the land has enough square footage (properly zoned) to build (2) single-family houses with a little over 2500 square foot and/or (1) two-family house with a little over 4500 square foot. 

That's what it will be based on.Note that price per square foot and cap rate are not included in the list.