@Bradley Kovach I guess it depends on your budget.

Then you'll need many dump trucks full of dirt to fill the hole.

My area it is $6 sf to replace. 2500sf*$6 sf= $15000/10 year life span/12 months in a year= $125 per month for 1 item in a capex budget.

After all was said and done, we were 25% over budget on the renovations and a full month past our projected timeline.

After all was said and done, we were 25% over budget and a month past our project timeline.

I work as a car salesman and I'm trying to create a budget but am having a hard time because my income can fluctuate month to month. 

For close in neighborhood demographics, go to a few of the local Grocery stores and sit in the parking lot Friday night after dark, Saturday morning, and Sunday afternoon.Look at the people, and how they are dressed, look at their cars and trucks--guess their income level.

Do you have a budget in mind for your first property?

Because you mentioned managers, I am assuming you didn't use a service like fundrise.But, you can't estimate profit without estimating what your estimated revenue will be and subtracting all the costs.I.e, how much longer does the roof have, what portion of the rent is being budgeted for future repairs, who covers the cost of repairs, how does the tenant request repairs, what are all the expected monthly expenses, how much is the management team charging you, how do you know the management team is doing their job, what are the names of the contracting companies they are using if they are constructing the property.

I would likely mitigate this risk by budgeting for a higher percentage of construction costs.