On top of that they are relatively easy to sell, where something like a multi family has a smaller buyer pool.So back to the details..Purchasing my first condo with $30k cash, then another $10k, puts me at $40k total investment, I rent out for $800 a month, after all my costs I'm looking at $450 cash flow per month.

Why not estimate that you'll receive 50% to 100% of the cash invested on the back end when you sell?

@Sean Monahan could you go into more detail about the incentives from local companies?

Then work backwards (estimated ARV minus the bank's payoff as the  plus your estimated rehab)  and see if there's enough room for you given your own risk tolerance.If the payoff of the loan is 178k and the house is worth 260k, you still need to know what the estimated rehab is to see if there's a deal.

In addition to the potential increase in cashflow by doing a 1031 Exchange, it would give me peace of mind as this property is the only one in my portfolio that is exposed to a high risk of flooding during a natural disaster as it is located in a very low lying area.I am happy to provide additional numbers/details if there is anything I am leaving out.

Value (mostly sfr/cnd not apt), debt, equity, loan details, transaction history, parcel maps, etc.

As Michael stated you can get more detailed with a cost segregation study to further breakdown the building value into the structural and necessary components that have 27.5 year depreciation schedule, land improvements have 15 year schedules and tangible personal property has a 5 (or 7) year schedule.

@Richard Sherman I received a profit and loss statement from the previous owner’s realtor, copies of lease agreement but no contact details for tenants just the names on the lease.

I have begun some demo as I started to work out the details but am thinking I should stop until this is finalized..

What’s your process of getting your numbers on repair estimates?