I find a lot of rents to average around $1,300. 

The average size of a three-bedroom is 1,200 feet.

I average finding about 100 houses/12 hours of driving.

If the repair process requires painting the whole thing, which it may need to look good- I'd optimistically put the lifespan of a professional/specialized 2-part (epoxy or urethane) tub/surround (or tile paint) etc- paint job, with above average prep work at ~3 years.. a "high quality" tub respray like this will cost just as much as a brand new tub, and touching up/blending a spot repair is specialized, expensive work as well. but yes I agree with the other replies either way -(unless, *perhaps* there is already easy access from behind etc to get to the repairs and inspect flooring etc without taking tub out)- it makes sense to rip it all out so you can address any potential water damage, and overall there is no reason the resulting new unit shouldn't cost aprox the same ballpark as the repairs .. and new of course will look much better with a much longer lifespan. 

As you likely know, the average 3/2 here is $1.1M.

However, the other benefits of owning real estate are: - Taxes (depreciation/potential accelerated depreciation)- Appreciation (this is NOT always guaranteed, but over time, you will have appreciation)- Building equity (in this scenario, as long as rent is paid, you'll build about $140 monthly in equity)Please note some expenses that are missing from this are: - Management fees (8-10% on average, if applicable)- Estimated vacancy costs (2-3%)- Estimated repairs (5%)Disclaimer: I am a real estate investor and own four rental properties. 

This is the average.

Lots of people moving from Toronto to Winnipeg and we still have low inventory so bidding wars are a given on any somewhat decent house under $500k.Not saying this is what's happened in your market but I don't like "average sale price" as a metric because it doesn't tie the asset that is selling to it's specific market value.

I always recommend looking at the number of deals the sponsor has successfully exited, their average returns, and the collective years experience between all of those with an executive position.

Here's the consolidated overview with the approximate average rental prices included for each county:1.