It's no guarantee but it's a good place to start.

@Melissa Wongkamalasai, Humboldt Park is a great area, but with you just starting out, how will you ever grow your portfolio relying on appreciation and little to no cash flow.

You're better off starting your analysis with 1.5x a typical market rent (use BP or rentometer rent estimators) and seeing if a property would make sense as an MTR at those rents.

To start, I've been looking around Orlando Kissimmee area but would love to hear thoughts, and potential other cities that have a strong rental market. 

Each investing strategy is totally dependent on the personal goals of the individual investor.  

An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

We're considering using an FHA loan, but due to his credit score, we haven't started the preapproval process yet.What steps would you recommend we take to secure funding for our first investment?

Selling them at a discount for $3,700 total. 

Luis Capriles I just officially started working with mine a few weeks ago, but so far I like how it is working out.

In fact, the median sales price of a single-family home in the Austin metro is ~52% higher than it was at the start of 2020.