People doing building are telling me that it is costing somewhere in the $300 per square foot (all in) to build those types of buildings (small apartment style).

The optimist looks up and loses his footing.

With a little work/research you can probably estimate how much utility bills and taxes will be per unit or per square foot on most property options.7.

Its about a 6 foot rise.

Just as an update for everyone - I wanted to say, I called the tenants back tonight to relay the terms you guys advised me on... basically telling her that i was going to list the place tomorrow and that as soon as i found new tenants, they would be relieved of their obligations so it could be earlier than the one month she was asking for.  

So as with most online "free" services, the end users foot the bill at some point.

It is 7 foot of cabinet so the cost on that can vary a lot depending on what you do.

If you're fighting a war, do you give your foot soldiers each a $10 millions dollar cruise missile?  

With an asking price of $200000, and monthly rents of ~$5200 the CAP rate comes to about 16% - Normally I'll take that any day, but the prices per square foot of the closest recent sales, a few blocks down, would bring the value of these properties to range between $120K-$150K.

The real estate market and lending arena has never been on more stable footing then it is currently is opposed to the house of cards it was then.