Obviously there's a lot I don't know about your deal, but using napkin math and your figures, Id go for it - I think $1600-1800/month is realistic depending on the area at that valuation (just guesstimating the neighborhood quality based on ARV).

I will be exchanging out and purchasing something around 250K with the proceeds which will in turn bring higher rent and a better quality of tenant Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Are their listings detailed with good-quality photos?

Generally speaking, when scrolling through listings, I'm looking for 3 things: pets allowed because I always travel with my dog, quality furnishings including comfortable living room seating (futons are a definite NO) and a king sized bed.

You'll save on labor costs and have better quality control.- Start small: Begin with a modest project to learn the ropes without overextending yourselves.- Create a detailed business plan: Outline roles, responsibilities, and how you'll handle decisions and potential conflicts.- Build a network: Connect with real estate agents, wholesalers, and other investors to find good deals.- Educate yourselves: Learn about local market trends, zoning laws, and permitting processes.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

It sounds like this person is essentially a general contractor or do you already have that role...in your case I would think your project manager would manage the GC (i.e, make sure they are on schedule, under budget, and quality is up to par). 

It penciled ITM on entry though.Even in the low rate era that was the case, that's not to say buy OTM... but it's to say buy quality.

Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant.

Cursing at me that the air quality in the house is poor because the filter is not filtering anything.

Any suggestions on a good quality LVP that will last while also being a good price?