The best approach is to set clear, written criteria, and then price the property at a rate that gets you enough applicants that you can find a few who meet your criteria reasonably quickly.

I’ve heard anywhere from 10-20% of the rehab budget, but curious how you approach it, especially for bigger projects. 20% of a 115K rehab is 23K.

This consideration may be worth it in terms of approaching local banks or credit unions with an understanding of real estate investment because they are generally flexible in offering loans compared to national lenders.

Quote from @Christopher Stevens: Quote from @Lu Kang: Hi Christopher,Now that you are approaching one year with your Dallas property, have you gotten updates on new insurance / property tax rates.I had a similar experience with my place down in Ark.

But, for future reference, in Ohio there is a little used approach to always get your money back.

A few quick notes before I go into more detail on how I approach situations like this:- As mentioned in other replies, a 401(k) match should (almost) always be taken advantage of.

Is this a good approach?

This new approach has been the best decision I have ever made in my investment journey!

Thanks Jaron, we are very split on this decision but I am leaning towards your approach. 

In other words, the government is concerned about an immediate affect on mortgage rates, because rates are so high today, and will be cautious in their approach.