If you can rent it out, get it rented out, get a year lease, then start approaching commercial lenders for either a DSCR loan or a 2nd mortgage, with cash out. 

Use a property manager for out-of-state properties or if you prefer a hands-off approach.

It feels like there’s always a surprise—whether it’s skyrocketing material prices or finding something unexpected during the demo—that eats into the budget and profits.I know there’s always more to learn, so I’m curious—how do you approach rehab budgeting?

Thank you for your thoughtful feedback—it’s clear that I need to clarify the distinction between my approach and the traditional perception of “cheap rent.”

Now, if you listen carefully you will find that he too found some of the same things that others mentioned...no deals in Austin, prices were too high...but then he adjusted his approach and nailed it!

Totally agree with your approach!

Best regards, This approach is neutral and objective, focusing strictly on the criteria, and avoids discussing any specifics about the applicant’s personal situation.

Columbus in particular has been a strong market for both approaches, with solid fundamentals for long-term appreciation and cash flow.

I like the 1% rule it's a conservative approach to underwriting and aligns with my risk mitigation techniques.

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)