@Jaycee Greene Price range probably up to 350k ish 

Houses here that are move in ready range from $200-300k.

The average for the U.S. in the third quarter was a 28.7% return on investment.It’s impossible to know what every flipper in the U.S. spent to remake homes but Attom said the 28.7% return is within a range that could be easily wiped out by renovation expenses, mortgage payments and property taxes.”My large last extensive rehab was a little unit and I spent over $100k and I have done quite a few rehabs (3 last year, so hopefully my cost is competitive with what can be achieved).  

Obviously every situation is unique it's on you to check with your intermediary and lender to determine what price range would be realistic to start looking for deals in before it closes so you are ready to roll. 

I'm running your numbers and getting in the low 20% range.

The entry level point for STR's has risen to the $4-500k range with many now pushing $750-850-$1M+ and I would expect that to continue to increase.

@Justin FondrenIf your credit score is in the 700–730 range, you're in a great position to secure favorable loan terms.

Ranges can be fine if they’re in good condition, but inspect them thoroughly.

Ahmad's post was comprehensive and unbiased based on his experience after thoroughly vetting the program.

And feel you'll have more options / strategies to explore with a tri or quad plex in the long range.