You won't know TRUE cost/SF until the project is built.In our market, we use cost/SF as a back-end development metric. 

This owner is checked out and the broker let us know the projected gross rents for this year will be $125k.

I assume that although you took on a pretty big project in a new area making you essentially a 'newbie' - your previous BRRRR experience definitely must have contributed to the success on this project. 

We might be able to collaborate since I'm working the Memphis market and could use some "boots on the ground" support.

Once it’s fixed up you can refinance it off of the projected ARV.

I'm reading about it but I thought I'd ask people out there doing it. 3) I'm willing to work on a project with someone to learn more.

Actually, I used to be an assistant cost estimator for construction projects.

I am also putting a tenant in another property and I find out the well went dry ( that was another post )  Getting that done took time away from the first project  .

I'm asking this question for my father who is looking to be a private investor for real estate projects. 

For instance, I won't ever plan to fund cap ex projects out of cashflow.