I haven't looked at J's numbers since then to see what has doubled, what has tripled, and maybe what has stayed somewhat close...That being said, if you are looking for very, very borderline useless numbers, plan on $50/psf for a moderate update to $100/psf for near gut remodel.Given that you are already very close to closing, realistically, I would say, you just need to get actual bids for your scope of work.  

You’ll want to consider the purchase price, HOA fees, taxes, insurance, and the rental income you can realistically expect.

A plan needs concrete numbers and realistic action steps.

Hopefully this gets others who review these forums to reassess their portfolios and formulate more realistic disposition expectations.

To add to what @Jonathan Greene wrote:1) Understanding the local market, so you know what Neighborhood Class your building is located in, what Class your Building is (condition & amenities), and what corresponding class of tenants will be attracted.2) Using all this data to properly set your expectations and a realistic ROI.3) How to better screen prospective tenants, including catching fraud, so your property performs better.

This means the ARV isn't realistic.

Rather, we use a 2-point bump in our exit cap rate with realistic/conservative rent appreciation and occupancy based upon both our internal projections and a thorough market analysis.

Thanks all, only clarification is I’m making money in Summer, and apologies for miscommunication - I meant on average (annually) I’m losing 5-10k so realistically will lose $75k on it first 12 months operating (but created about $800k of equity).

Is it realistic to think the numbers would be the same?  

Are there future maintenance projections realistic?