@Michael Lee do the math, make an offer based on your numbers, if it isn't accepted make an offer on something else.

Come back with that info and I will help you do the math.   

It’s all just math :)

But I should be okay as long as I do my homework and screen tenants properly.

In my market, the cap rate seems to be around 4.5-5%, but lets just say 5% for easier math. 

SAT and ACT scores are helped by reading and doing math throughout high school.

I have about 20K saved up and I am doing my homework for my first real estate investment.

I have zero idea of the details of this house but what if something funky was up with it and it needed something like 70k list30k foundation repairs150k inteior (which could be low that's 100/sqft and 1500 sqft for easy math).Now you're already over or at your company depending on how you bid.

First, I believe code requires you to have a window before you can consider it a bedroom.When considering a renovation, there's very basic math involved:          Renovation cost divided by the increased rent = # months to recover costExample: it costs you $2,500 to build a new bedroom.

If the math is done correctly, depreciation should not count against you at all.