My budget is about 400K.

However, for my budget there is not many options available.

Currently yielding $850 monthly ($600 after projected vacancy and budgeted maintenance)

I've been going through "The Multifamily Millionaire:  Volume 2" and in Chapter 13, they talk about property management ranging from 4-6%, on top of on site management that is on the owner's payroll, separate from property management, and that you should budget about 1 staff member for every 40 units.If you (the owner) are already paying a property management firm, why do you have to have on-site management separate from the PM? 

It's essential to assess whether current prices align with your budget and long-term goals.

Also remember even with a high amount of financing, the lender will want to see you have reserves to cover the project in case it goes over budget. 

as a break between living spaces.I'm not a builder but I imagine builders enjoyed a little savings by not having to budget for all the additional interior walls, but maybe that money had to go into costs anyway.Open floor plans are nice, but a bit too open for me.

One property was budgeted 40k renovation, however cost 55k.

The next one is WED July 10 in Morristown.

Is around 100k a high enough budget to have something attractive enough rented out each month?