Additionally, I normally build in at least 7% of the purchase price going towards transaction costs when selling a property.

I’m also a long term equity guy, so just having tenant pay my mortgage is enough of a deal in current climate.On the positive rents are very high for this area and even this time of year when normally I’d see no leads for an open unit I’m seeing 1-2 a week for unit we’re remodeling.Good luck in the search and congrats for doing it yourself.  

Any advice on the normal process you use prior to making an offer would be greatly appreciated. 

Then compare that with your normal 30-year fixed.

But well done getting your foot in the door.

The odors are not always easy to eliminate within the normal apartment turnover routine.

Ironically it's normally the individuals who go to the greatest lengths believing they are protecting themselves who are the most reckless in the way in which they operate their real estate.

They are normally my quietest tenants. 

If it's a simple living room to bedroom conversion, it likely won't be that difficult to return to "normal" if that's ever needed but definitely a great thing to keep in mind.

You can also create a basic scope of work and get ballpark estimates from contractors or use cost-per-square-foot averages for your area.To determine ARV, look at recently sold comparable properties in the area that are similar in size, style, and condition to what your property will be post-renovation.