We have 2 San Antonio sub2 deals that are turn key homes and only require about $20-25k to close (assignment fee + closing costs).They're a great option!

Here's an article with things to consider when selecting a cost segregation company.

Where did you get your construction cost estimate?

Cost per sq ft?

Doing that would COST me a bunch of money in the TIME suck.

Are you in California where the LLC costs are crazy high?

The quick takeaway: The spread between your all-in cost ($1,150,000) and ARV ($1,500,000) gives you about $350,000 in equity after repairs, which is significant.I was surprised that our system initially categorized the property as a potential group home or assisted living facility.Of course, I didn’t stop there—your core question of whether to hold or flip remained unanswered.

I would argue you did because of carrying cost but I'm not an attorney.

The ongoing costs in a cold weather climate are greatly diminished, not to mention the relatively easy access to water for those same purposes. 

We were able to pull all the Rehab cost back out and some extra to roll into our next property.