Agents are also advising you to look for expensive mistakes (like checking the sewer which could cost 5-40k) and using their network and contacts to find homes off market or FSBO.  

Run the comps, calculate repair costs, and plan multiple exit strategies so you maximize every deal—whether that’s wholesaling, flipping, or holding for cash flow.

.$8,000 would likely go away in closing costs.

One of the things I'm trying to figure out is if I'm better off getting a few lower cost properties or on higher priced property. 

Bonus points if they’re used to working with investors or can help keep costs in check while maintaining quality.Cheers,Kevin I would say this about BRRRRR, especially as a newer investor. 

You should only be liable for tax on any appreciation since you inherited the rental (minus the cost of your improvements). 

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

We almost went with a loan that we have to pay all the cost upfront and then get reimbursed on the back end and that was just not something we were willing to do.

Second year distributions rise to 5.27%, third year 7.27%, according to the projections.Those projections may be at risk, for many reasons: the recent huge increase in interest rates -- increasing the cost of loans and decreasing valuations, insurance costs have skyrocketed, real estate taxes are up, labor and material costs for repairs & renovations have increased, etc.On the plus side, the majority of the ODC funds were designed to be high value add projects with plans to increase operating efficiencies, add tenants and raise rents.  

Any tips on balancing renovation costs with tenant expectations when preparing a property for midterm stays?