If you have massive liquidity then you might overcome that objection with the lender. 

Operators tell me that the objection to the costs are from the children of the elder who don’t want mom to spend down her savings, fearing that she will run out of money and that there will not be any left to pass down to the kids.

There is a wide range of sectors within commercial real estate.

In the past year or two we see lots of rentals and investors and rent prices hYou can probably find a place in Waco in your price range.

Quote from @Dean Malka: 1) what's your range for remodeling a kitchen completely (granit, backsplash, tiles, etc)?

I have industrial suites that range in size from 700, 1,200, 1,800, 2,500, 4,000, 8,000, 12,000, 20,000 and 25,000 sq ft. 

This leaves me $700/mo (plus $200/mo in reserves) to pay myself, which seems high for a “house hack”.Hindsight being 20/20, I may have bought out of my price range.

While this review appears comprehensive and objective at first glance, I see a concerning pattern.Looking through William Ferr's posting history on BiggerPockets, there's an unmistakable pattern of consistently promoting Jonathan Halves and his training course The Land Method and his Land Riches Blueprint, while criticizing other educators.

@Nicholas DillonRentometer can give you a rangeZillow also can give a rangeThe best source would be to call a loc a property manager or realtor and have them also give you a range as at end of day they will have most recent and updated numbers and have a better feel for where the market is at

Bogleheads was the source of most of my formative personal finance education (for ~14 years), and it’s relevant because the SWR discussions there are typically in the 2-4% range.