Does anyone have any calculations that help them decide how much cash to put into a property factoring in opportunity costs for that cash?     

I don’t need them to help me run the RI business but I do need them to factor it in properly to my overall financial picture and retirement planning.

According to RS Means national pricing list, Alabama is close to the National Average if not a little cheaper.There are also a number of factors that can influence costs, but the pricing assumes a 3 bed, 2 bath 1,500sf average grade rehab. 

It would depend on multiple factors.

Seeing the lavish lifestyle they lived, I was intrigued, but of course my first response was, "Where am I going to get the money he uses to purchase these $30 million properties?"

So depending on size and other factors you can budget another 5-25k for a rewire and Drywall repair.

Since I have renting experience (which I've read is a qualifying factor to be able to use projected rent income towards DTI) will I be able to use that towards my next multi I plan to do an FHA on?

You have to factor these in to see what kind of actual cash flow potential you might have. 

We've been buying more and more product in Chicagoland and prefer to avoid Cook County, when possible, but, if we find a good deal, we'll bid on it.You have three main factors that affect timelines for NPNs in judicial states: the courts, the foreclosing attorney, and the noteholder.

Run the numbers this way and make sure to include property tax, capital expenditures and repair estimates at 10%, vacancy factor at 5%, property insurance, etc.