This will help you get the most accurate estimates. 

This way you get the chance for appreciation as well! 

Use softwares like AirDNA and Pricelabs to get an estimate of what you could be making and see if it's worth it.

By any chance, do you know if you're eligible for any government grants and/or funding?

It’s been estimated by one attorney I spoke with that an eviction in Cook County would take about 6 months.

If you have a great investor agent, he'll be able to help with finding you personalized deals, helping you learn good/bad neighborhoods, estimating renovations/scope of work, setting you up with his team, etc.3.

How much rehab are you estimating?

If it’s a good enough deal you may not require a full 100% reduction by the amount of the estimate.

With the use of VRBO, Booking.com and direct bookings can all raise your chances of staying booked and being successful.  

I estimated capex at 10% which I think is low considering the deferred maintenance, 10% property management, 8 percent vacancy.