You can start to educate yourself on the individual components; how much does it cost to paint on a per sqft basis or what is an average kitchen remodel.  

To leverage the equity for financing my next deal, a second mortgage seems like a more cost-effective option.

One of the things I'm trying to figure out is if I'm better off getting a few lower cost properties or on higher priced property. 

So about 8 houses per year will do ya....but don't forget your costs of doing business AKA overhead....Very good point!

Any tips on balancing renovation costs with tenant expectations when preparing a property for midterm stays?

More units usually is better, but costs more.

Renovations can cost more than you expect, add 10% to your overall number.

A manager will roughly cost $100-$150 a month to take over a unit (it could be more or less in your market) and manage the units.

Insurance is still an annual dog fight via my broker.Read your policy very carefully, consider replacement costs will probably be higher than estimatesResiliency is a requirement here.As far as sell or not....it'll depend on your determination to be here.This ain't the burbs of the bay area.Prepping for heavy rain right now.

The total cost including construction and permits (but excluding the land) comes to about $2.14 million.