Quote from @Shuchi Gupta: Hi BP community,Looking for real-world experience from multifamily owners or investors who’ve done a panel upgrade.I have an 8-unit building in Santa Clara, CA, and I’ve received 3 quotes to replace the main service panel & meter bank (9 meters total, including common laundry).What differs across the bids:600A Eaton meter bank Square D panel but amp size not specifiedOne bid includes the laundry subpanelSome bids don't include permit/engineering/stucco patchingPrices range from $19K to $38K some not including permit fees.Current setup:1960s buildingGas water heatersShared laundryUpgraded kitchen appliances over timeAll tenants have window AC units, No EV chargers yetQuestions:Did you go 250A or 600A on your small multifamily upgrade?

If cost is your concern, this is the cheapest version that still stays safePermit:ElectricalHVACBathroomNew door/windowsDo not permit:KitchenChange of use from “garage” to “dwelling” (expensive)This keeps the project at a fraction of full conversion cost while giving you 90% of the livable utility.Bottom lineYes, this is done constantly in Tampa.Yes, your plan works.Yes, the permitting can be simple if you don’t trigger “second unit” red flags.Yes, renting the two floors separately is a non-issue if structured as one ADU.

I use Square for that. 

Trying to get an updated feel for rehab costs in different areas.
What are you all seeing lately? $/sq ft for cosmetic vs heavy rehab?
Would love to hear from experienced flippers in different markets.

If a lender says "no" that could also be a red flag that you don't have the great deal you thought you had.

The clear path forward is simple: SFH construction in strong markets where sale price per square foot can better absorb today’s costs.

The difference is square (which is 100 sqft) is likely because one guy just measured it.

Are there questions that I should ask and are there any red flags I should look for? 

What red flags do you look for when choosing contractors? 

However, with the fence I think it depends on the percentage of square footage.