This is the #1 issue we see - owners not understanding, so then their expectations are not met.

Our properties that are bigger always require mowing crews as you can't expect renters to keep up with mowing that much land.

I want to continue to invest in the property especially after getting back the inspection report which had a little more work than expected but I can roll with the ball!

However, we are expecting 2 rate cuts this year.

If this were my deal the sale price on a triplex would likely be around $900k, so if I bought the land for $150k, and my build costs were about $500k, I would expect my interest and carrying costs to be about 10-12% of the total of that, so lets say $75k, for all in expenses of about $725k. 

Good to hear... i'm factoring in an 8% vacancy rate in my per forma, hopefully will accommodate any loss expected .

Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)

We bought couches from Lazyboy that have held up really well and I expect they will last many more years.Some Amazon stuff is good, read the reviews. 

@Guenevere F. you're going to need 20-25% down to get a mortgage.If you target $100k, that won't leave you any funds for closing cost, maintenance or emergency reserves.You could try targeting around $80k, but the $16k-$20k down payment would still not leave you with enough.If you buy under $80k, you're probably buying such a low-end property that it is unlikely to meet your performance expectations.

The lesson I learned is the lesson that most everyone shares: renovations will take longer than expected.