You take a 1920's house to one and say "I want the whole thing redone" and I guarantee you none of them would ever say "20000 sounds about right"  I was a builder for about 5 years precrash and I used to tell people the base model started at about 75 bucks per sf under roof and we go up from there.  

I have properties that I bought when my business model was a little less clear.  

According to him we may have a leg up because the decision was based on them being "model tenants", and that no longer applies.

All of our one bedroom units can sleep 3-6 people (with our air bed, sleeper sofa, and bedroom bed) Think about replicating successful hotel models. 

Their whole model relies on having a lower overhead and attracting large numbers of people to appease investors. 

My guess is if you plug the $15K into your model it won't effect the IRR by more than a couple of bps. 

Well, the problem is I already have 2 nice houses that are expensive...Kind of wanted to wet my feet on a cheaper option...Plus, BRRRR model needs time, which I dont really have...Plus when I think how much time and efforts I put into my past fix and flips and got only 20-30K for it- it just does not really make sense to me to work so much and take all that risk and stress...But may be I should think about it...

It's a great business model - if you know the tricks and best areas.

Each vendor had a different suggestion on where to mount the units, what to do about electrical, etc.If you have steam or electric heat, you should consider the hyper heat models.

I once found a receipt for a model T 1925.