Hi BP,I am fairly new here.

As for how much the individual units would rent for, you'll have to do a bit of research but here's an article I wrote with some resources you can use to get a pretty good idea: How to Determine Fair Market Rent.Hope that helps. 

Of course, I'd also suggest working with some fix-and-flippers to get an understanding of the process, also finding a GC that can walk some properties with you.I would say though to ensure you offer some sort of value to the GC in exchange for their time.

I will be doing a fair amount of graphics and videos so yeah I agree, the MacBook Pro would make more sense for me.

@Sunil Kapoor  The closing costs look fairly standard to me. 

If you go upwards of $200k you can end up in a quad or 6 unit apartment building.Whichever out of state market you choose it's important that you do a few things to ensure it's as smooth as possible.

That generally ended their sales pitch fairly quickly. 😉 Again, the only thing I wish I'd made more of a priority was accessing that equity while in an easier position to do so from a banks perspective.

hypothetically 4 units should reduce income vacancy risks if bought right but still need manage reduce tenant risk by screening and ensuring their numbers work as well as buildings numbers...plowing, trash, lawn, repairs, management,not just p.i.t.i.

We live fairly frugally, and traveling provides good pay, well I define it as good at least, so we have substantial income left over for investments. 

Who decides what fair market value of the renovations is if he's not giving you a bid and charging you?