If everyone in the chain is good at their job: Investor, Broker, Lender, Title, Insurance. 

Anywhere from $500 - $2500+ depending on the insert you install and whether you run the vent and exhaust up the old flu or cap the flu and vent/exhaust through the side of the house/chimney.If you hire out the entire job, expect to be in the $1K - $1200 range.

What makes it slow in this case is that you don't really start seeing real cash flow until after year five but it's more effective than rentals in that there is little to no maintenance.Sure you can live in a home while fixing it up with the intention of selling it for a nice profit later but I think many people are already doing that and the buyers of slow flips now also have that opportunity without having to qualify with a bank.

Two Reasons: First, because 50M people in this country either work gig jobs or are illegal immigrants, when they lose their jobs or have their hours scaled back, it doesn't show up on official unemployment stats.

My strategy in Arizona has been adding bedrooms and renting by the room - currently getting 850-950/room in nice neighborhoods.

Looking to understand the job and the day-to-day.

Buy the oldest ugliest home in a really nice neighborhood.B. 

Planning for uncertainty......is a thankless job.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

I like the strong infrastructure investment and overall job growth trajectory in these parts of Williamson County.We're also seeing similar job and infrastructure growth between Austin and Bastrop mainly thanks to Elon Musk's investments in the area.