When the property is finished it will be worth conservatively $150k, which is the number I went with.

So yea i put 295 to be conservative considering how beautiful the end product was on Britannia st.

Think I'll just have to learn as I go and use conservative numbers with room for error in my analysis.

I’m always conservative, and we,be made money on every deal.

@Peter Bui To be conservative I like to estimate about 1% higher than owner occupied rate.

Wildlife and conservation work is my real passion, so my goal is semi-passive cashflow to support that.

I've got a teaser rate of 3.25% until November and then it'll jump up to around 6.5%  At this point, I'm all in for $103,500.I've run the BRRR calc below, using vary conservative numbers for everything. 

I'm not really sure what the cap ex would be but, to be conservative I'd put the vacancy at 10% ($85) and that takes my monthly cash flow down to $125.  

I'll say about 20k is your budget and that's conservative.

With $178k out with a conservative sale price of $190k, I was on track to make a quick $12k.