Estimates are bout 400k for full gut remodel (hvac, plumbing, electrical, roof, mostly new windows, kitchens, and baths, minor re-framing) New plan is for (2) 2B1B units and will rent for 2k and 2500/mo. 1 unit is a larger 2 bedroom.

Add charges for rent for the remaining months, estimated utilities, estimated cleaning and repairs and cost to re-rent (in our case: cost to PM is 1/2 a month's rent).

Rent is estimated at $3,000 per month and the home is roughly valued at $625,000.

Purchase price: $726,000 Cash invested: $1,300,000 Sale price: $4,500,000 We are developing a 4 story a luxury Duplex.Property is primed for short term rentals with conservative estimates of ($40,000-$50,000) per month.

The construction cost is estimated to be around $180,000.Buying a Property in the Midwest: Alternatively, I could take the $180,000 and buy a property (or properties) in the Midwest, where the rental market is more affordable.

The Innocence Project estimates 2.3% - 5%.

If Jesus came back and got into rentals NO, N-O-B-O-D-Y get's admin access into our system. 2) They want a standardized list for maintenance items so they know in advance what repairs would cost.Being a PMc I'd invite them to acquire any of the readily available construction estimating tools/software out there such as RSMeans, but would not take on such a task as building and maintaining such a database, honestly for any $, it's simply not what we do. 3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.A-ok. 4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.I'd be fine with this as long as they sign a waiver that they own any/all negative impacts that result from such including extended vacancy periods, vendor refusals of service necessitating there own self-search to secure amicable vendor etc etc.. 5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $300LMAO!

My current primary ( scenario 1) Keep the primary for the life of the loan ( current rate is 4.5 so i dont see my self refinancing anytime soon)current home value 1,150,000Loan amount 935,000appreciation estimate 5% per year after a 28 year hold and the house is paid off I would have a house worth 4,312,000$my current mortgage is 6125$ ( piti) included My second option( scenario 2) Sell the house, walk away with $150 ,000 ish in hand and put that into a low cost index fund Rent a house elsewhere for about 3000$ ish and take the extra 3000$ im saving everymonths from not having to pay my mortgage and puting that money in the index fund as well I ran the numbers on both of these scenarios and doing what I mentioned above would break even at about 28 years meaning my stock account would be worth 4.3 million just like my house would , but the only is that holding a house for 28 year would mean 28 years of property taxes, loan interest ,home insurance and repairs etc whick I calculated to be about 1,200,000$ at minimum which raised my eyebrows to say the least Also i understand that each of these options ( stock market vs real estate ) will have there tax consequences ( long term capital gains) so any thoughts on that would be appreciated as well.  

Is this generally the way this should be estimated? 

I ran number multiple times but my estimation seems not great as I am not sure what percentage I should allocate monthly expenses as the recommandation is a range such as 5%~15%.