We are looking at an apartment complex that is approx. $1.5M and are looking for an estimate on cost segregation.  Any input would be appreciated. 

@Jacob Spain if your goal is rentals, forget flipping... reverse engineer that goal to figure out where to start.

Thanks to @Brandon Hall and @Yonah Weiss for helping save $37,818 on 2017 taxes via a cost segregation study.With multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).Nice tax deduction, lots of people make money (vendors, contractors, home stores, agents, brokers, lenders, inspectors, accountants, engineers, management company, etc), and the neighborhood gets improved...everyone wins.

So, a benefit, yes, but earth shattering, probably not.This is the dirty little secret in the syndication world--the IRR is really an act of financial engineering because the property-level cash flows can be divided in so many ways and these details do matter. 

Do we need an architect or engineer given that the units are almost in shell condition?

In addition to this post, consider doing reverse-engineering and search for folks in Buffalo here on BP.

Hello everyone, I'm an engineer in Richmond Virginia.

I have two engineering degrees, but was "saddled" with $40,000 in debt when I entered the workforce.

I want to know what all comes with the process and is the process really as simple as having the lot surveyed, finding builders for the right price and getting my floor plans stamped by a structural engineer and approved by the city ?

An inspection is certainly in order, but a traditional inspector might recommend an inspection by an engineer.