Keep in mind that I am closing in on 30 years of doing this and have done many in the surrounding areas of Lubbock, deals never turn out smoothly even for me.  

Sounds like the home is already similar to surrounding properties in terms of beds/baths.

My plan is to: - Take out the clawfoot tub and install a bath/ shower combo with a manufactured surround (for water tightness and ease of cleaning).

This particular location has primarily salons, restaurants, antique shops surrounding it all within walking distance.

It’s based on averages of surrounding properties.The way you value a property is looking at recently sold comparable properties.

I’m surrounded by Dave Ramsey people so when I first got into real estate investing I thought paying all cash was the way to go.

Working on buying my first investment property and have concerns specifically surrounding code violations and that sort of thing.

Personally, I haven’t invested (yet) into worcester because I’m in line to buy a property within the surrounding towns of worcester.

Target big groups going to Christian conferences in surrounding areas (Montreat, The Cove, etc...). 

I don’t really want to do a total remodel but I’m excited about putting in a little bit of TLC and sweat equity to do some basic stuff (painting, trim, flooring, replace appliances, outdoor cleanup, etc) to make it nicer and more appealing for myself (since I’ll be living there for a while) and also for my future tenants after I move out.I’ve been doing a little bit of looking around on the mls (via Zillow) just to try to get a feel for some price ranges in the different sections of the city and surrounding cities/towns and I think I might have found a pretty good deal but wanted to get some feedback on it and see what I’m missing and what I should be looking for.Here are the details: Location: Trailway Dr, Summerville, SCList Price: $149,000 (assuming it was purchased for list price)Down payment (20%): $29,800Closing costs: $4,000 Total amount out of pocket: $33,800 Assumptions:rental rate: $1,550/month (median rent for that area from rentometer.com)Insurance rate: 0.50% of sale price (estimated, I haven’t gotten a quote on this)tax rate: 2.03% for rental property (from Berkley County Website)Vacancy/Loss %: 5%Repairs %: 5% of Gross RevenueCap Expense rate: 7%Prop Mgt fees: 10% of Gross Income Mortgage interest rate: 4%I have an excel calculator that I built to learn how to evaluate deals like this but I'll summarize the numbers below.