Part of my issue was not having a reasonably priced handyman ahead of time and eventually overpaying to just get it done and also inexperience as a manager.With that said, you essentially have two options: very cheap properties in less good areas (you're looking at 100k or less--which you might have trouble getting a good lender for)  or trying to do some sort of house hack (e.g. live in flip, live in rent by the room, multifamily) where you budget will be closer to 200k-300k.Personally, I would not look at real estate until you are maxing out your 401k and IRA, but lots of folks have done significantly better with real estate than stocks and would think I'm crazy for suggesting this.

Others are responsible with their budget and can stretch a dollar.If they are excellent renters, I would offer them the option to renew and let them make the choice.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

We would offer more of a budget-friendly option which could include FB marketplace/goodwill -Manages furnished rentals (STR/MTR) for investors.

Need to be sure you include the "unknown budget" and never take the optimistic approach as it is better to have money left at the end than writing more and more checks that were unplanned for.Again, if you can walk through an actual property and compare notes with someone that does it in your area (key factor), you will be way ahead of what a generic book can give you.

Alternatively, you could split it between House 2 and 3 in a way that covers your building budget for the apartment.

This section should outline the process for documenting and approving changes, as well as their impact on the budget and timeline.

That said, with smart budgeting and solid reserves, decent cash flow is absolutely achievable—it just takes time to build.

Tell them you are looking in 3-5 towns, with a certain type of home with a certain type of budget.

There is no harm in reaching out for a slight difference in budget you can just say that you got there contact on FF and have an available unit slightly above their price range and tell them the price and let them know to get back to you if they are interested.