My 70 % rule...ARVx70% - rehab cost = purchase price.  2nd question....

I imagine cost of labor might be a little bit cheaper in Idaho compared to Connecticut as we ended up paying 10k for gas furnace and 5k for AC with 10 yr warranty for Lennox product.  

I'm sure OK has its share of dumps but you really have to drive around FL to truly appreciate how much low-cost housing there is.  

To Sum it up, its a good idea if you can exceed the cost of capital (higher rate than your cost of debt) with what you earn on your heloc/debt you pull out and invest.The question is how much gains above is enough to substantiate the risk of your variable interest rate, well thats up to your personal investing criteria.

Though, that would probably be a similar cost to the above ground pool. 

I did not want to spend 50K on doing separate meters for where I have my rentals it would cost me this much.

In the desert it costs me LESS than $20 for water.

Also, I just found a few classes here (not sure cost of Study.com)  https://study.com/academy/lesson/chain-of-title-abstract-of-...Best to you!

In option 2, your costs are $25k higher.

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.