When you are looking at estimated provided by the seller take them with a healthy grain of salt.

Unless you are confident in estimating the renovations needed, I would highly recommend getting a contractor's professional opinion of the rehab costs.

I use 10% for maintenance & cap ex, 8% for vacancy (but not on STR because the estimate from Airdna includes vacancy), 10% for management.

@Daniel Tanasa What would you estimate the time investment would be each week with property management?

/Have you been inside the property and walked it to do a full estimate of costs?

When in Due Diligence have a thorough inspection and get estimates for any work that is needed now and potentially in the next 3-5 years. don't forget about the tax benefits to doing the work upfront.

For costs, if you're an investor, you can probably do a video walk through to get a ballpark estimate on rehab.

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

i have seen that quadplex on the market for a while and yea it is definitely more than i would like to tackle right now but i think i could possibly make that SF work thank you for the recommendations  @Anthony Benoit For what it's worth, I'd estimate you'd need to negotiate the purchase price on that SF down a bit to make the numbers work in that area (BRRR or F/F).

To get the same numbers for the LT rental, I'm estimating the rents would need to be at least $2,800/mo.