I am also counting on a few 55+ seniors selling their homes to escape the city (Austin, Houston, Dallas) for a more affordable community where their retirement savings will go further and where they can connect with other seniors. 

They are generous on the values so sometime my actual cash out of pocket is less than 15%, for example, I pay 102K for a house that appraises for 108K, the extra 6K they count towards my down payment so I get a mortgage for 91,800 because that's 85% of 108K and I write a check for about 10K.

Go on Zillow, type in your zip code and the bed/bath count, and see what is currently for rent.

However, if you have a solid mulit family unit, you can have higher overall rent due to your unit count.

I was shocked as I thought it would be very simple (which it is), but some syndicators will use funny math such as not counting fees, placing expenses on a quarterly or yearly basis when using IRR (backloading to end of year). 

GC’s who have been around a long time are guys you can count on to build long term relationships with, they’re generally not the cheapest but they’ll get your projects done with the least amount of surprises/headaches.

For a 2 bedroom my projected ongoing is around 13-15k (not counting the rent) at the end of the year because this is my first Airbnb Arbitrage I have and will make mistakes expense wise, the start up costs also is not factored because furnishing and starting everything from scratch obviously will skew the ongoing expenses which would add another 5-8k but I played it smart and have most of the funding charged to buisness credit cards with 0% APR for 12-18 months such that I save money and can take the year in paying back also with sign on bonuses which will save me up to 1.2k or more.If and when I hit my conservative projections my profit should be around 16,300-22000 by the end of the year this is after rent, expenses, cleaning fees and so on. 

Unfortunately, those are treated as personal expenses and aren’t deductible.As for the repairs and improvements, fixing leaky pipes counts as a repair and can be fully expensed in the current year.

@Cole HarrisKeep in mind that square footage has a lot to do with pricing as much as bedroom count and/or revenue. 

And when getting a DSCR Cash out loan, the proceeds from the loan count toward the reserve requirements.