If you can't accept that tenants don't always play by the rules then the rental business is not the space for you.

I was uncomfortable but I thought that maybe this was the way commercial deals worked.The GP predicted selling the property for $3.1 and then signed a deal in January for 2.78, which seemed low given the hot nature of the market and the improvements done to the property but I didn't really have any recourse.

I am interested in sfh 1300sf and bigger in A-B neighborhoods. 1% Rule minimum.

My issue is going to be in not over improving it (I probably did that with the last one).

There are even Airbnb proprietors who rent out improved and permitted shed conversions for as much as $100/night.  

Is there some rule of thumb regarding how much one should spend on a rehab? 

If you purchase an older building & do nothing to improve it you won't be able to command the rent or maintain the value. 

I'm just wondering what some people's rules of thumbs in the region are for like flipping or rents.Bigger Pocket guidelines are usually like 70% rule of thumb for flipping and 2% test for BRRR.The Bay is kind of a special child, so was wondering what kind of numbers people look for here?

The more you have the more you can lend...the old "it takes money to make money rule" BUT...if you borrow OPM and lend it out then you can use theirs to make the spread.

If you accidentally take out too much, no rule says you can't pay a mortgage balance down during a refinance.