But if you're serious about getting into RE, find a job in RE, work as a RE agent, for a property manager, for a house flipper, for an institutional wholesaler, anywhere you can get your foot in the door and learn everything you can. 

Hey Everyone,Inspired by this post (found at the bottom) and my clients who are in need of a solid way to analyse Airbnbs, I completely reworked a property analysis template and wanted to include it here for everyone.

The windows look good, I don't know that I would replace them in a rental.I don't think you will get any more rent by removing the awnings and reworking this area.I think a flooring company should be able to patch the hardwood floor and match the stain very close.

Sure plenty of people do all this stuff and don't pull permits, but when the city shuts your project down and you get a 6 month delay for them to approve all your permits, and make you rework stuff to comply, you will have wished you pulled permits day 1.

Since the brick has been painted already, and we are talking the $700,000 -$800,000 price range I would have reworked the entire brick area in the living room. 

The boiler itself is probably $1500, but you'll have to do quite a hit of plumbing rework to get the right pipes connected in the right places and separate off each unit.

I experienced hiring and firing two subs, translating to time delay due to rework needed.

That way I am almost assured the property will meets my minimum cash flow requirements.Here's my reworked analysis of this property:GSI = $4,800Vacancy - $480 (10%)NOI = $4,320Expenses:PM - $480 (10%)CapEx - $480 (10%)Repairs - $200 (4%)Ins. - $300Tax - $1103Misc - $240 (5%)  Landscape/snow removal, pest control, etcRemainder = $1,517P & I - $2045.26Future Cash Flow = ($528.26)Less Rent Unit A - $2,000Current Cash Flow = ($2,528.26)Your P & I (Mortgage payment) would need to be around $1317 in order to Cash Flow $100 per unit.  

We took the bathroom down to the studs, reworked the kitchen and living spaces to make them more practical, updated the entire house & spruced up the exterior.• Marble quartz countertops in kitchen & laundry• New handscraped espresso birch floors throughout• Wood-look ceramic tile in bath & laundry (and as backsplash behind the range)• New stainless steel appliances• Remote control LED lights under kitchen cabinets• Nest thermostat• New windows• New roof with architectural shingles• New horizontal cedar fence• New cedar deck• New custom exterior shutters• Generous setback from main road• Xeriscaping provides added privacy & noise reduction• Carport & enlarged parking pad for easy turnaround• Prewired for Google FiberRenovations took right at 100 days and cost approximately $60K (versus the 45 days and $40K the original GC promised us, but that's another story for another time).

If you re-work the numbers using our suggestions I'm getting a negative Cash Flow (-$17.47).