Cost for RehabLight Rehab: $10-12/sq. ft. (95% of properties need this)Paint Floor1.Carpet2.Tile3.Peel & Stick4.Refinish HardwoodDoorsLightsPlugs & SwitchesMedium Rehab: $20-24/sq. ft. (70% of properties need this)Everything in the light categoryKitchenBathWindowsHeavy Rehab: $30-35/sq. ft.Everything in the low and medium categoryHVACPlumbing ElectricalRoofFoundationMold Average for landlord buyers to get the property in rent ready condition is $8-$12 per sq ft.Average for rehab buyers is $20-$30 per sq ft.If you’re doing an offer sight-unseen, figure Medium rehab costs for your offer.Individual Costs Flooring:-Carpet: $2 sq. ft. carpet/6pound padding installed.

A CRM is absolutely key, using things like the MLS, craigslist, zillow, hot pads, trulia, etc to rent are all excellent ways to find tenants, manage leads and keep your units full. 

Extra income potential for landlord in rents so contractor pads costs or am I hearing you wrong?

Maybe another rental or two will give you the padding you need later in life.

@Ryan HowardI can respect you getting out there and finding vacant homes a little tactic i use to find properties is called "google drive for dollars"I simply take a target zip code/street in my investment area and begin to use google maps to walk up the street using my mouse to zoom in on any property that may look distressed.

From what I've read in the forums and heard on the podcasts you want to do a "hand written" letter on paper from a yellow legal pad.

Pad that total to accommodate possible repairs (many folks use a % of rent), and then see where that lands you in terms of market rents and what your friends are willing to pay you.

All flooring good (carpet on first, vinyl kitchen, all wood upstairs for bedrooms).Two car garage (new garage and pad).

Apartment is not cheap- but coming up with 20% Down (if not more) for a pad in nyc is expensive.

@Enrique SelmanHover your mouse over his name.