Of course all my numbers are assumptions and just examples and there could be many variations.

I see a lot of projects in places like Indianapolis, Cincinnati, & Charlotte and there can be variations in costs, especially on the material side.  

You, or your agent, should then review the estoppels with the respective tenants; record any missing information or variation to the information presented {this is how you find side deals or catch un-ethical vendors}; and have the tenants attest the estoppel (i.e. sign with a witness).If the attested estoppels differ from the information provided by the Vendor, you go back to Vendor to work why.

Some people are saying online that there is a lot of variation within the neighborhoods.

Everything else, no matter what the words, is some variation on one of these themes.

This is NOT an exact science and some of the variations and "rankings" for lack of a better term are subjective.

A little variation of house hacking @Brandon Turner ;) Has anyone done this and what are some estimation for cost, tips, and/or thoughts?

., one slight variation.

There are huge variations between houses in these kinds of areas.I average about $17,000 per unit to get it rent ready and $500 per month in gross rents.

Some of my most profitable deals long term have been 0.75% deals and some of my least profitable ones have been 2% deals, and much variation in between ... so, to me at best it is a meaningless metric, at worst it is the opposite in that it has in my experience been slightly inverse to the profitability.