.$24K in soft costs (permits impact fees etc)$200K (or less) buildout of the house (size tbd on after-build-appraisal) Likely going with 2/2 A frame 1000 sf.

@Cameron Porter ultimately the most important part is the ARV, inclusive of the expected rehab costs.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Or if you want a lower monthly payment, then do the 20% down.You can also negotiate credits with the sellers to use towards your closing costs or rate buy down.

I am estimating the note would cost 2.5k per month at most. 

It could be anything... a mistake in estimating, a cost overrun, or something like the place burns down and the insurance wasn't properly taken out, or theft (of the money outright) or theft of materials along the way.    

The very tragic LA fires have generated a lot of discussion about insurance costs.

Would the value of the remodel increase the rents or the selling price that would out weight the cost? 

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

Co-living will be necessary due to housing cost.