Best estimate is bad tenants are out near year's end.

What did you estimate for maintenance/cap ex for the 2 units and how did you derive the number?

I only replace things that would make the appraised value come in at lower than my estimated value or that are likely going to stop working or cause an issue within the next 3-5 years. 

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

Modeling uses templates to estimate allocations although some firms still dig very deep on these types of studies, costing $1,000–$1,250.DIY tools are cheaper but often miss deductions and lack audit-ready documentation.

Estimated CostsADU costs can range DRAMATICALLY depending on the state of the lot, custom vs fast track plans, size of ADU, materials and finishes, speed and quality of the builder, etc.

Existing deals will instead be saved by NOI growth driven by rent growth--if you have the staying power to hold on long enough.Supply:  High deliveries remain today mostly because of "hang over" from projects that are taking longer to complete than developers (and industry analysts) expected. 

First, estimate what the renovation would cost, how long it would take, and how much extra you could potentially sell the property for once it’s fixed up.

When you are looking at estimated provided by the seller take them with a healthy grain of salt.

Finally… do not assume that “Your” real estate agent is working for your best interest… unless… BOTH of the following are satisfied… 1) the agent Signs a “Buyers Agent” contract where it is stated that YOUR interests comes firstAND… 2) the agent / your buyers agent has no affiliation with any other party nor has any financial interest in this transaction other than as stated in the docs… and has no association with any party in the transaction… other than as stated in the disc… you explain up front that any all buying agreements are not binding until after you have AT LEAST a Preliminary Good Faith Estimate/ HUD1/  enhanced financial disclosure… and that ALL parties/ entities and all fees are clearly disclosed.