Of course it's based on projections, so it depends on how well you understand that market.Keep in mind, what you're talking about doing is a business, so you need to think it through like you would a business.

Lenders will project , using a local appraiser , what future rents will be based on similar area properties even if building is vacant and not livable.

A couple probably novice questions:Are the number of units permanently declared at 5 although the project isn't completed?

This will help you to recognize if your numbers make sense for a project.

If you starting out are you trying to hire laborer as employee  or you hire out sub contractor to work on your flip project?

I am currently a Project Manager for a commercial GC in the Portland, OR market.

Real estate is also to help others to find solutions for their challenges ..... we help a few business to gain money and we offer jobs to a few contractors to help us with our project , we make some profits so win win situation .

I’m not afraid of a good project and am pretty good at estimating the costs involved.

That project probably won't start until next spring.

We have accomplished these type of projects from concept to completion.