Any advice is greatly appreciated.David,Here's what I do for my multi-family buyers:Yes it is hard to estimate for maintenance because of a lot of variablesBut I know its expense is less for more units, for things like 16+ unit buildings, onsite maintenance room for storage materials, onsite employees use less hours to do work ordersSome entities even volunteer their residents to pick up grounds, hence minimizing your maintenance costsIf hdsupply.com accepts your account they specialize in multi-family buildings and you don't have to use man power for delivery or pickups And yes, you can do analysis paralysis but it might help you the bank's formula DCRThe 1031 buyers look at expenses differently Yes there's a number per door, e.g. if the units have been neglected you will spend at least one month's rent in turn ready unit expense    An organized well lubricated team should turn ready units in 2-3 daysPay close attention to the human factor, i.e. low self-esteem employees who will take longer to turn ready units or do work orders with poorly workmanship, theft, etc In capital expenses, concentrate in a few and more expensive to start with, AC, plumbing, electrical

Most county assessors are now available on line and most are free (at least in KC), but you will spend  a tremendous amount of time trying to manipulate the data into usable information that will help you find good deals.  

I honestly wouldn't want to spend more than $2,000/yr. in flood insurance...so perhaps Galveston is not for me in the first place.

Based on those rates, it appears I was not being realistic in my expectations for long term rates for an LLC. 

I recommend doing research but don't spend forever researching.

I've flipped houses in areas I wouldn't want to live in and I've flipped houses in neighborhoods I can't afford (well don't want to spend that much anyway) to live in.  

Also, by keeping my GPA up, I can go to a university and only spend around $15,000.

I'm hoping to network and find resources on that end of the market, so I can add value to what he is doing.I'm sure I will find new things as I spend more time on here :) 

In rougher areas you might end up spending a bit more than 50% where the houses might cost less.

You have already received multiple responses as to why that is not realistic in the real world - UNLESS you have this secret source of cash Buyers that WILL pay more than the general market!