For some people, going over budget by that much and holding for that long for put some people close to the red.  

I think the house is about 1800 square feet so it was like $13/ft.  

My company purchased a home that is 2,500 square foot this year in 2017 for the bargain price of $170,000, and we are putting in approximately $50,000 in upgrades, as well as making the single family residence (1972 brick rancher) an open concept, transitional home with a modern twist.

We are looking at HM because of quick close, less red tape than a mortgage.Thank you!

You allocate that based on square footage, so if all three units are the same size each gets one third of the cost basis, but if the main house is the size of the other two units combined then it'd be half to the main house and a quarter to each smaller unit.

Mmm that red pop though. 

It's a 1600 square foot home with a decent back yard, and with about 5-7k could be updated into a section 8 property.

If there is really high cash flow day 1 at market price, that to me is a red flag, not a green light, since it likely means I'm taking on extra risk from the quality of tenants and the neighborhood.

When you've narrowed it down to one or two operators, visit them, shake their hands, tour the properties - looking someone in the eye is still one of the best ways to either gain peace of mind or clock hidden red flags. 

We drove by the house today and one of the cars on the driveway on the side of the house has graffiti written in red with the word "whore".