There are usually some minimum services like painting and house cleaning, but if additional renovation or maintenance is required, that will add to the price.

Simon, Here in FL its much easier for us because we know a few things:1) The U.S. is severely under supplied in housing units. 2) Tons of people are moving to Florida everyday which makes point #1 even more drastic for us. 3) Interest rates are preventing people from selling their homes, because then they would need to re-trade for a higher interest rate buying a new home, which is creating even more housing demand.So with this knowledge, now we move to more market specific data, which is what I talk about in the original post.If a market shows decent growth and demand, then it all boils down to the numbers.Its important not to forget about any costs though.

Being paid $30k to live in a house is a pretty good deal.

Agreed on house hacking.

Any tips on rehabbing a house to rent out on a budget?

We just finished our first house flip and we are in the process of renting it out.

Some housing costs could be deducted.

Just one example to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

today's babies do not need housing. 

I reached out to the owner.