I guess I was thinking the cost would just be 10% regardless of property, but it sounds like you’re saying you actually have to save an even higher percentage if the property rents for less because the amount wouldn’t cover the appliances or other cap ex expenses.  

Still need to clean it with regular household cleaning supplies, keep the dehumidifier running, and try to increase some air flow if possible. 

The average household income here is $79,524.

I have never had to do a full gut on a home yet, mainly just flooring, paint, appliances, and interior work.

Think of these as savings for big-ticket items like new flooring, new appliances, or a roof or siding replacement.Because maintenance and capex can be “lumpy,” you may think that you’re generating more cash flow than you really are.

My family home was next door so I did all this work while working full time and maintaining a household and family.

Think through the scenarios - could you comfortably handle two months of vacancy while needing to replace an appliance & prep the unit before next tenant moves in (> $10k)? 

Double lease or renting appliances or promissory notes or what?

They were older appliances so I’ll give them the benefit of the doubt but again, no other issues with other tenants. 

roof replacement, all new floors, new finish plumbing, interior cosmetics, appliances, fixtures, and just knowing the area of town What was the outcome?