LVL material, preference for an open floor plan, make this renovation very popular.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

I'd talk to your broker on what it'll sell for after the fact and where the market is heading over the time you plan to own it. 

Quote from @Matthew Irish-Jones: Quote from @Mark Cruse: Yes, there will be more expenses above what's mentioned here but if this is done properly it can be kept to a minimum.

Over the next 5–10 years, I plan to scale to a portfolio of rental properties and eventually diversify into syndications.I’m particularly interested in the Lynchburg, VA market and other areas with strong rental demand.What I Bring to the Table:I’ve been saving aggressively, and I’m exploring physician loans to help get started with minimal upfront costs.I’ve done a lot of reading (shoutout to BiggerPockets books!)

This OM uses expense figures that are round and likely not 'current' as advertised.

I plan to continue holding onto this property.

I'm in the market for entity config and tax planning/prep.

So this requires some upfront planning. 

I’m exploring the idea of buying a vacation home near Yosemite, which I also plan to list on Airbnb.