BiggerPockets is a great place for that, so keep asking questions and refining your process.At the end of the day, estimating rehab costs is a skill that gets better with experience.

Quote from @Deirdre Lizio: This is not an "either-or" consideration.

I have 40 years experience as a real estate syndicator/sponsor and investor in other syndicators deals.

While continued learning is important, experience is the best teacher, so take that first step.Good luck!

Going through the experience and taking action will add more to your future wealth, then getting stuck in the numbers - CoC or ROI are not set in stone, and they also are just snap shots of what you see today.

I will say that it was the one of the best experiences I had as a newer Real Estate Investor or even someone that’s just looking to learn more about Real Estate strategies.

I would love to speak with people that have experience in the area.If one of your friends would like to talk to me and share some advices it would be great :) 

From my perspective, it seems like stretching the budget is almost a necessity to afford a property big enough to house hack in Denver—even with a good job.Looking forward to hearing your thoughts and experiences!

.), and continue to educate myself on NOI, Cap rate, cash-on -cash return etc.BP community, I am open-minded, willing to take initiative, always willing to be taught something new, but also ready to share any experience or knowledge I have that can help someone else. 

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)