It's probably not going to end well for that landlord.We actually had this happen to us twice last year (at the same time, in 2 different units)!

The big thing that determines the price is what actually has to be done and the finishes that you select.I know you said it is a gut remodel but are the floors still good? 

Old investors like me only invest in the subscription for pro; we don't buy courses or books (actually, I own probably 20 of their books) regularly.

Granted, my analyses are not based on due diligence like actually getting properties appraised and simply going off available info on various MLS portals.

I property manage STR in the cape cod so this is actually good info

In the unlikely event that you are the exception that proves the rule, the rare 18 year old who can actually generate a serious income by wholesaling real estate, your day to day will look like the following: - You will door knock, cold call, send mailers, and otherwise create lists of people who are in the most desperate moments of their lives. 

But, it's very commutable, and a lot of people working in Reno (especially South Reno) actually live in Carson City because it's cheaper. 

@Clark Harbaugh, Given the favorable tax rulings over the last few years (in particular revolving around trusts and their equaling a beneficial interest in the underlining propery) the IRS has actually been much more lenient (or at least silent) on these issues. 

@Felicia NituIn addition if you actually want to realize that value, you need to count another 5% for selling costs, and the taxes from the sale.Assuming a 20% capital gains tax, your total ROI on the above scenario would be about 12%, even with the numbers you were using. 

My two cents would be to wait to put it on the market until a lot closer to it actually being ready, if not once it's ready for move-in.