@Jordan JonesIn our market it ranges from 6%-15% it depends on the neighborhood and schools.

We have traveled a bit and like many places but our favorite has been Nashville, TN for overall cost of living/weather/Culture.Our plan is to purchase a house in the <450K range and relocate later in fall after our Baby is at least 3 months.

I have a pre approval that includes 40k in rehab cost but I am unsure if this is a sufficient amount.

Theoretically it could benefit someone just starting who has a small portfolio and haven't built up sufficient cap ex right?

Our team can manage anything ranging from monthly/annual rentals to vacation rentals as well.Thins we handle include but not limited to: communication, accounting,check in / check out, repairs, payments, etc. 

I could see $150k easy for all this work and quite possibly more in the range of $175k+.

After spending $20K and making the repairs you should be in the range of the other houses and if you rehab the place nice (likely will cost more than $20K), you should be at the top of the market price.If you spend $105K + $20K to get an RE valued at $150K (ARV) the profit will be small. 

I know it is a buyers market right now and the prices I am seeing are in the $250,000+ range with rents at about $1900. 

@Avery Carl I know it's a loaded question, but what is the "correct" price range for a 5 bedroom home?

Even if your credit score is on the lower end of the acceptable range for conventional loans and it will be owner occupied - still high.Investment property, asset based loan , or buying in an LLC, rate may be decent, depending on credit.Rates definitely aren't one size fits all.