The practice decimates the homeowner's net return. 

Definitely increase your cost but I would move that decimal up, more like 2-3x.

I'd definitely suggest a small multi-family (2 - 4 units) for several reasons.1) Can be purchased with a conforming loan2) Ability to house hack (if desired)3) Vacancies don't decimate cash flow4) Potential net cash flow higher than that of SFRSome important things to think about. 

Maybe it was actually $160.00 and he misplaced the decimal.

My decimal point was off. $233.33/ft. sq.

There's lots of businesses that have been just decimated by this virus shutdown.

Of my 3 large investment categories, 2 have been decimated. 

Restaurants/bars and hospitality could be decimated.

I pointed a few musician friends this way, as their incomes have been decimated as well.Good luck! 

Talking Northwest Doug fir.I know pine beetle has decimated the western pine forests..