@Dennis KnappJ Scotts book on estimating rehab costs is a great start. https://store.biggerpockets.com/products/the-book-on-estimat...Here is a "general" rule of thumb for my market in Jacksonville, FL.

A good rule of thumb is to have 3-6 months of expenses (mortgage, utilities, insurance, etc.) set aside per property for emergencies.

@Omar PietersA few things here.The 1% rule is thankfully not a rule otherwise most real estate investments in the US and many other parts of the world wouldn't work.

A break even into a profit, and a profit into a windfall. 3- Capital - I used to state this as access to capital, back when the rules were loser, the regulations less onerous, and information less readily available.

If there is demand and the market supports a market for mobile homes, it could be an opportunity.

Though many investors bend the rules and possibly don't get caught, you have the financial situation to do it correctly.

You'll likely need to be in a C/C+ neighborhood to find the 1% rule, but you can still break even or sometimes get some slight cash flow in the B neighborhoods of Columbus.

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

You can submit comps to support your asking price but it is not guaranteed.

Hard and fast rule for me no pools at tenant properties.