Also, legal action may cost him/her more than the deposit itself.

So, for them a turnover is MUCH MUCH less costly than an SMALL out of state landlord who relies on a PM.

I'd say my biggest question right now is how to get accurate numbers for when analyzing a deal (specifically insurance and rent) and what's the ideal percentage to use for variable costs?

You are looking for capital to do the other 30% plus closing cost and buying fees that will be in 2nd position. 

Unless you are confident in estimating the renovations needed, I would highly recommend getting a contractor's professional opinion of the rehab costs.

@Henry T. its like despite what these policy makers do, housing costs and homelessness sky rockets.In NYS the HSTPA got passed.  

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home 7 mil credit line  ... new budget for each plan that has been pre appraised in the MAI at the beginning of the project.. they did have to update the Mai last summer but again did it at their cost not mine.. banks have to paper their files.. even though we are selling the same floor plans for 100k more per plan than the original numbers came it at and bank has been paid and has all the closing statements showing this data..

I would ask...Are carrying costs a problem moving forward?

My lease requires renter's insurance which should cover loss of use if the unit becomes damaged/uninhabitable, but I don't think renters insurance covers costs of living expenses incurred during just an evacuation.

Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.