Annual STR revenue for 4bed 4bath cabin is estimated to be about $45,000.

They can help refine your repair estimates and ensure your assumptions are realistic.

Trying to get a # from him about estimated remaining cost but got nothing.   

Learn as much as you an about how to scope a property and estimate the investment. $50k sounds like a lot to you but with the price of materials and of qualified labor, it does not go too far.

Hi Eric,Great question—estimating operating expenses can definitely be tricky, especially for items like maintenance, CapEx, and make-ready costs that vary widely between properties.

You can use a tool like AirDNA to get estimates of property performance in your specific market and with your typical size and configuration of home.

Reassess your repair estimates and see if you're being overly conservative.2.

bottom line - you can't use a square foot estimate... you need a bottoms up estimate as @Samuel Eddinger alluded to.  

(August 2022)Single-family residence buy & hold investment.Current Value Estimate: $410,000 Purchase price: $345,000 Cash invested: $5,000

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?