It is always valuable to be able to walk into a property an analyze cost to repair, it is a huge factor in determining the feasability.

I do not think it would cost too much to tone it down howeverI got a $10k quote (minus fees) from an interior decorator recently to redesign.

•This additional income can help offset costs and increase your total reported income for future pre-approvals.5.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

It's infinitely harder and much more costly to scale a construction crew than it is to find people interested in buying a good deal (that you'll provide happily).

For a single property, a strong umbrella insurance policy may offer sufficient protection at a lower cost.

Assuming you sold the home at the end of 5 yearsYour NET ROI would be:0% appreciation: 10.93%1% appreciation: 12.13%2% appreciation: 13.33%3% appreciation: 14.53%This ROI calculation takes into account taxes, insurance, selling costs, repairs (calculated at $3500) through out the lease.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

One month of vacancy will cost you $2,600 + $200 utilities.

I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.