Investment Info:Single-family residence fix & flip investment in Springfield.Bought a house with my father to strip apart and make into a better living condition and hopefully make some good money.

Since it was a mechanics garage do you have an understanding of the environmental conditions that come with this type of asset?

For further enticement the return could look like this: a certain % on their money for what is called a preferred return (they receive this before any profit sharing) and then they receive a % of any profits that the property makes in any given situation, Fix & Flip or BRRR.There are many ways for this to work but you will have to understand exactly what your private investor is looking for in a return and you should provide them with assurance that their investment is protected as best as it can be via things like them having 1st position on the deed, promissory note signed by you for repayment, the property is purchased at such a discount that if you had to sell it in 30 days in its present condition, they would receive their investment back from the sales proceeds, etc... 

You may find there is more work to do to get them in rentable condition. 

First the condo fees cut into your monthly budget and you may be hit with special assessments depending on the condition of the complex and who runs it. 

My question is how are you able to determine a price of X without seeing what condition the apartments are?

So the time argument or condition argument are non starters to me.

The tax assessor's value is irrelevant in this case because they do not have an accurate assessment of the current condition, work required, or even the ARV most of the time. 

If the item was previously notated on the inventory condition form upon move in then I would normally decline the repair request. 

We replaced the old window because it was in terrible condition but then the code inspector said that needs to be fire rated instead due to its proximity to the fire escape.