Then I need to build my team, inspectors, sub contractors and either find a property management company or try to self manage them and etc.

Since I am just beginning I am just looking to make a quick sale to build capital.

Replacing small items such as those can often times build trust and keep your tenants happy.

@Dennis GallagherAs for the 50% Rule (where your expenses equal about 50% of your revenue) - I might argue that the flaw in the theory is you will walk away from many great wealth building opportunities just because it doesn’t meet the formula.

This can be cap ex to the building's common elements or cosmetic like a new lobby that you as a landlord may not view as a worthwhile investment but the owner occupants may.

@Mostafa Koperly sounds like a good plan for the building! 

Slowly build out a repeatable process...if you continue to change things (as in different types of properties, different levels of renovation, different finish material, different neighborhoods, etc.) you create more variables and make it harder to solve to the problem.I am a math guy and less unknowns/variables you have the easier the problem will be to solve. 

Scope creep is a huge problem and the more you learn up about the project up front, the easier it is to figure out what actually needs to be done and avoid surprises (or pass on deals that need more than you initially think): https://www.biggerpockets.com/blog/due-diligence-ultimate-gu...I highly recommend building a contingency (I do 20%) into your rehab budgets for unexpected issues.

Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.

But I'm building more seller leads out that way, so stay tuned.