In fact, I would want to go even lower because there's a very good chance some damage is hidden and costs will run higher than anticipated.If you aren't experienced, I recommend you just buy the good apple. 

Account for the cost. 

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.

Partner Driven fully funded the $60,000 purchase price and covered the $109,106 renovation costs.

Since we aren't in that state it would cost more because we can't physically be there to track projects, network for contractors etc.

If purchasing new real estate as part of your reinvestment, a cost segregation study can maximize depreciation deductions, offsetting future taxable income.For effective planning, assess how the sale price is allocated between real estate, tangible assets, and goodwill, as this determines the tax treatment.

If you enjoy hands-on management and rapid income growth, this could be your strategy​​.Considerations: Expect higher maintenance costs, variable income, and stricter local regulations in some areas.3.

I would also send the insurance company this same letter and tell them they are going to be responsible for the cleaning and repair cost.

This may not seem like a big issue, but if you're paying for premium data, like I am, it can drive up your cost per deal drastically.I switched to REI Reply last year and can send off over 2000 texts in one drop.

It would be for $120k plus closing costs for a year or two until we could refinance.