My longest recent rehab was 2.25 months and added a half bathroom, took down 4 walks including load bearing, put up 3 walls, new plumbing, electrical, flooring, huge percentage of drywall, an eye brow porch, new kitchen with full layout change and new bathroom with full layout change.  

ABC kept the first two and half months of rent from the rental guarantee for tenant placement fees and utilities (water, electric).

I work remotely as a software engineer, I currently make $105k / year.

Many things like electrical can often be upgraded.

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.However determine the Rehab Costs are only a part of analyzing a deal, you also have to focus on determine the After Repair Value of the property in the specific Area/LocationIf you’re focusing on specific markets and ever want to discuss analyzing deals or strategies, feel free to connect, Our firm would love to help you!

Permits may be needed for bedroom or bathroom modifications, especially if plumbing, electrical, or structural changes are involved.

Prior to losing the home in foreclosure the previous owner had retaliated against the lender by cutting out most of the exposed electrical wiring and removing the heat and air units from the property. 

In each category, note how much you are bothered or stressed on a 1 to 5 scale, with 1 = not bothered at all and 5 = stressed out: Pain Points Stress1 to 5 Pain Points Stress1 to 5 Unit turnover Exterior maintenance Advertising for available units Deferred capital expenditures Tenant screening rules Plumbing or electrical emergencies Tenant selection / discrimination rules Mortgage payments Documenting move-in conditions Bookkeeping and bill paying Documenting ongoing conditions Taxes and insurance premiums Dealing with tenant complaints Risk of late payments or non-payments Dealing with neighbor complaints Risk of property damage or vandalism Mold, termites and rodents Premises liability Interior maintenance Evicting tenants If your completed table has mostly 1s and 2s, then congratulations—you are a happy landlord!

For foreclosures, you reverse engineer.

.- My Resources / Constraints: I'm in a by no means unique, but perhaps less common situation for those getting started; I'm a somewhat senior software engineer at a tech megacorp and should be able to save a couple of down payments per year for lower priced houses (100-200 in my area), or perhaps one medium priced house (300-500).