If you're looking for easy 1% rule with 20% though you'll have to look out of state for sure, or get some wild deal off market that you completely stole from the seller.

It was the wild west back then and I haven't seen consumer demand quite that crazy, but I have seen builders throwing houses everywhere they can like demand will never go down. 

That way you have some money coming in at all times.If you had a contractor that had a large enough crew and gave you a discount for doing both units quickly and at same time then it would be worth wild to just get them both turned around as fast as possible and rented at market rents.I self manage all my properties.

The cost to renovate can vary wildly and so do the prices of fixer uppers. 

This is not the wild west, you are operating a business in which laws govern your operations.

My income swings wildly only having passive income and sales in this frothy market.

  - I'm sure you've thought of this already, but your town doesn't have to be tourist-heavy to be a good airbnb location - I've seen wildly successful short term rentals located near universities and hospitals and nowhere near a tourist destination. 

My top recommendation for new BP members is to plug into the podcast because it was wildly helpful for me, and it looks like you're already there! 

Repairs are a wild card and you will have to have some knowledge of what you are buying to get a rough idea.

Rentals in college towns can be wildly successful...keep us posted on your journey and don't hesitate to ask questions in the forums.