Depending upon what all you pay, utility bills may swings a lot depending on the renters, so make a worst case assumption on that too.4) You are not considering the landlord tax deductions (property tax, mortgage int, insurance, and whole bunch of other expenses related to being a land lord), which will make the analysis look better.5) Do exit strategy analysis, It will be a good idea to run a long term analysis (over a 5yr period) considering possible home price variations and how you will fare if you have to get rid of the home in 1, 2, 3, 4, 5 years, don't forget to include broker commission and seller related closing cost in that analysis.Just my 2 cents, good luck.

I’m leaning towards a variation of month to month after first year and lease renewal. 

I imagine it is similar but with some variation on the law.

Most of the unit is painted with thee base colours, the other three allow some variation in bedroom or an office.  

Our realtor is good with sending the comps, but its hard to make a decision on setting an ARV because of the variations, even within a .01 mile radius.

Like If wanted to find Drew  Sygit  and for the life of me could not remember how to spell the last name IE Seygit or some variation your not going to find it..  

There are a lot of variations in hard money / private lending as its not a one size fits all box that everyone should not be grouped in.

So, you could use any licensed, insured, and bonded contractor, but they just won't know the timelines, guidelines, rules, paperwork, processes, payment structure, bid format, variation of the 203k, etc. and would basically be winging it. 

Design will have quite a bit of variation depending on who you hire to draw the plans and submit to the City. 

However, if you do it, I would suggest a variation in how you worded your potential strategy.