And the answer is always the same :-) There is no way to accurately do this...too many variables and moving parts, plus it varies too much from one locale to another.You need to find a really good General Contractor and pay him to walk the property with you....over and over....until you feel really comfortable estimating yourself, and that should take years.Alternatively there are online calculators (even one here in the tools section) but I would not rely on them for the reasons listed above.

After feeling as if I have done my due diligence and am financially ready to jump in and actually invest, I have been researching different opportunities and areas for investment.

Feel free to connect.

Quote from @Darrell Kirby: Sounds like you got quite a bit of solid advice already and are already taking some action, so feel free to ignore my ramblings. 1.

Cash flow would likely be a little higher and more marketable for a multi if prospective tenants feel like they have somewhere that’s their own, instead of just living in a room in someone else’s home.

I was worried for a minute when the county mailed a survey to me asking how I felt about STR’s, but now that the review of their system is over, I feel confident that they won’t make any more major changes here for a while.

They can’t review the “hot” deal their broker just sent them because they’re too busy categorizing emails in color coded category’; they can’t attend the on line networking session because they need to switch over to a more detailed CRM system; they can’t visit the property going up for auction because their scheduled weekly garage cleaning is running overtime…..The Educator – This person never feels they have enough knowledge, experience or education to properly evaluate an investment.

Any questions, feel free to reach me, David Page, Executive Director of the REIA, at [email protected]. 

It's also totally fine to hop around from broker to broker if you feel like you're out of a shared runway. 

I feel like I live my life in spreadsheets, so I’d be happy to look at whatever you’re willing to share.