My total expense ratio on each property I own ranges anywhere from 40%-50% annually, but I also self-manage and am not a slumlord (I am pro-active with maintenance, not reactive).

Over the summer I used a VA loan to purchase a 3br/1b per unit duplex that I'm currently house-hacking, doing a live-in remodel on the second floor with the first floor totally updated and occupied with college students.

I want to be somewhat hands on so I would pick markets that are driveable for you and visit frequently. 

Quote from @Richard Schubert: Closed and now have the keys in my hand.

Or…Are they saying they have a buyer and they’ll charge 6% total?

But then you personally will need to log at least 100 hours of hands-on work on the property, all in December.

List of all items remodeled and how much they cost and the comps in the area (some appraisers come from out of the area and you know best what the comps are and numbers are).Other option: if the numbers turn to be tight and you cannot refi, I would think about selling it lower and taking less on the deal to get your hands washed from the project.

@Michelle Simoni I totally get where you're coming from.

There are a couple of DIY cost segregation companies that provide you a questionnaire to complete to generate your report.I normally recommend a home inspection and appraisal in hand when completing the questionnaire.The completion of the study is instant.Best of luck.

There are a handful of gulf front complexes that still cash flow positively but you need to be very careful as to which complex you choose as not all complexes and especially HOA's are created or managed equally.