If you're looking at Iowa, now you've got something to measure against.

Instead we were bailed out by the IMF and EU, in exchange for pay cuts and austerity measures.  

When they passed the measure it must have been pretty easy to gain support: current student rental owners were totally on board because they were just handed the keys to a monopoly, and the residents want it because they don't like living next door to college kids.

@Bryant Bagley, I'm a bit of a newbie so this may be an obvious question, but isn't the 2% 'rule' a measure of Cash Flow and ROI?

This allows you to identify any areas where you may be overspending and take corrective measures in a timely manner.Allow for Contingencies: Set aside a contingency budget to account for unexpected expenses or unforeseen issues that may arise during the renovation.

Now we go in with a clipboard, a laser tape measure, a good flashlight, an electrical tester (plug in and proximity probe) and a cell phone camera. 

Many experienced investors find that they gain significant momentum after the first few years of measured progress.

It was only going to be a B-/C+ type rental and that is what I told them and I also pointed out a mistake in how they measured the house.

I read a few use zillow, but im a little worried about using this as a measure.

Submetering or Separate Utility Accounts: If separate utility meters are not feasible or allowed, you could explore the option of submetering, where individual units have their own utility usage measured.