I’ve found this method to be effective, but very time consuming.

For lead, you'd want to keep the paint in good condition just in case but with the windows all being either vinyl or aluminum and the interior trim being more recent than 1978, I wouldn't expect lead paint to be a concern. 

I should want to rent the place for $800, and I can see myself applying the 50% rule to $800 method rather than the $500, especially when it comes to covering the refinancing part of the property.

I am not sure who coined the method but I think it was Cody Cox and he called it the dead money approach to investing.

I used Brandon Turners The Quick and Dirty Way method on Analyzing a property.

Trim, baseboards, hand railings, minor finishing touches take a ton of time but are easy.

Unless you know a licensed contractor extremely well, have supplies already or decide to explore alternative methods for getting it done, my guess is your renovation expenses will be well north of 40k. 

IF we were ever not able to DO the ongoing PM, the cost for that would come OUT of our half of the split.This second method seems like a real win-win.....

There are a lot of people who are successful with the BRRR method in the area.

I am curious if there are other developers that have other methods or historical price points for % of gross sales new construction MF units will run.Also we are building tiny units so this would account for more units vs traditional building size and square footage.