I am estimating the note would cost 2.5k per month at most. 

On the other hand, a detailed quote with a higher total may offer more transparency and reduce the risk of surprises as the project progresses.I specialize in consulting services for situations like this, where I help clients evaluate contractor quotes, ensure transparency, and navigate the renovation process with confidence.

Quote from @Maya Cohen: I've been searching for up-to-date estimates of the cost per sq ft for new construction of SFH & MFH in Philadelphia in 2025. 

Why not use the higher end of the estimate and once you are serious about putting in an offer contact your broker then?

I would anticipate it would depend on the level of detail you desired but it has been my experience that the will do free estimates.

@Delroy WatsonI recommend connecting with @Jonathan Klemm to get an estimate.

Below is my estimated scope of work and timeline.

They can help refine your repair estimates and ensure your assumptions are realistic.

You can call suppliers, but may need very specific details to get a meaningful number.

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?