Average Turnover Costs -3/1 SFR in “C” Neighborhood

[Lina Kwon]

Hello All,

I am a newbie investor and have just acquired my first rental property (3/1 SFH in a "C" neighborhood) in Lawrence Township of Indianapolis.

I am in the process of trying to find a good property manager. A highly recommended PM just told me that the average costs to turn a property around after a tenant vacates is between $3,500-$5,500 in repairs...

I am shocked to hear this number as turnover would basically wipe out all cash flow for the year... I would really appreciate and any insight/thoughts on this number and how accurate of an estimate it is...

Thanks in advance,