Thank you all for the info. we ended up pulling out of the deal due to a large amount of unforseen repairs uncovered during due diligence.

@Armin NazariniaI see several flaws in your proposal:You said "then sell the property back to myself", which implies you sell the property to your 401k, is that correct?

yup note was flawed it was usurious .. demand letter went out.100% of my payments went to principal so in the end I got an interest free loan. 

I know that rental properties have their flaws (tenants/repairs/etc), but assuming that doesn't really stress me out, what else am I not considering?

I actually noticed the flaws in the report after I posted It.

Then I could get an idea as to how accurate my numbers are (if I'm consistently willing to overpay then my calculations are obviously flawed, same for if I'm coming out with a very low number).

I've been weighing putting hanging/track barn doors on the opening to the living room to provide some definition but am not married to the idea.Bottom line is that I'm trying to market around the design flaws because we don't have the budget to heavily redesign.Would also appreciate ideas for exterior trim color and color for the interior pantry cabinets.

What if it uncovers something you unforeseen not in your numbers?

Eager to know more about what options you uncover.

Plus anything else that will undoubtedly be uncovered in the process.Some good news tho is that the appraisal was based on it being a 2 bedroom house since the one bathroom can only be accessed via a bedroom which would then qualify as a den.