@Rafael Ramos I have a buddy cash flowing about $1500 per month on properties in the Tampa Bay Area that were built around 2018 and have very little maintenance.

It's a 4 bedroom SFH for $325k, built in 1990 and it's got many upgrades including a 2024 roof.

That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

You can get some estimates from contractors for what they charge for big ticket items like to renovate a bathroom, renovate a kitchen, replace the furnace, replace the roof, etc.All wholesale deals should have free and clear title and you should be able to see the sales agreement before submitting the earnest money deposit.

Punch List: Accounts for any punch list items involved. 

Of course, any dataset has assumptions built into it...and I admit I'm not sure what those are in this case. 

We built it out of necessity and started same way as everyone, cut our teeth on bad decisions.

Fair enough, I have partial ownership of a commercial (apartment) building in the Bay Area and I would estimate it as a Class A- to maybe Class B - great location, great tenants, nice amenities (not high end like gym, new pool, community room with big screen TVs, etc), high rents, but building is older (built in 1950s).One investor I saw post that they look at where Starbucks and Costcos are opening and possibly factor that into looking at different markets.

There is nothing that replaces a live conversation with someone who has already built that trust with the sponsor over time.

I know in my area that is being built everywhere so might make sense.