If they were to do it, he estimated at least $10k.

$1200/unit can be possible on the east side, but I would need to see the listing and give you an estimate on rehab.

I asked a lender to run an estimate for me and I was shocked at the amount of fees that I need to pay.

Our strategy is to buy land cash, take construction loan to build the structures.Some napkin math for this strategy:Land cost : $200,000Building and furnishing Cost: $400,000 for each A-frame (Provided we have electricity, well ready )Airdna revenue estimate shows $400 night rate with 70% occupancy.

The lions share of our bookings (about 65%) are still brought in by Airbnb/VRBO but I estimate I can bring up occupancy 10% to well managed properties with these tools.2 - Even more important is pricing. 

An estimated full renovation of the apartments would cost around $150,000.

We then spent around $30,000 out of pocket on renovations, including repairing the roof, upgrading the electric panel, installing new HVAC, and putting in a new kitchen.After completing the work, we refinanced with LendingOne using a 30-year fixed-rate DSCR product at around 7%, which resulted in a net cash-out of approximately $15,000.A couple of things to note:I'm out of pocket on this property for around $40,000 ($25k down, $30k rehab, minus $15k recaptured).I'm thrilled with this amount since it's far less than our "normal" 25% down strategy would require based on the higher value.The property appraised for $330,000 after the renovations.The key point for me is that this property is now netting around $800/month in cash flow.

Here are the numbers…Purchase $375,000.00Cleanout $25,000.00Rehab $375,000.00 (I estimated a little under 275, 100k lesson) All in right at $775,000.00With current rents the NOI is 108,000 annual.

We estimate that the basement will cost approximately $30,000.

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