Hi Jordan,John rates are typical but NOT if this property is located in California.

Or example please just getting into real estate investing.

General interior remodeling work                                              $50,000 - $70,0002) Add for kitchenette & new bath & laundry                               $80,000 – $115,0003) Egress window well if necessary                                                 $10,000 - $18,000which is cleanly out of my price rate (to much money) and, here's another one The average cost of converting a typical basement to a legal rental unit will cost $85K - $ 95K and include:1.

If you are referring to cash as in mattress money/physical cash it cannot be documented.Gift funds however, typically don't need to be sourced.

Typically, they track down heirs to properties that are owned outright but split between many family members that may or may not communicate with each other or even know the FMV for their portion. 

If you are in the 37% tax bracket, the goal is to be cash-flow on an investment and have that income being shielded(by depreciation) so it isin't taxed at 37%.once you go above the $200,000 purchase price point, it is harder to find properties that will cash-flow with the typical 20% down payment.Best of luck to you.

From what I've found, Miami as a whole averages approx. 80% occupancy @$300/ nightAppreciate any help here...... as I'm typically one to do the leg work.

Unit rehab typically only makes sense if the unit is in poor condition or very old.  

I did not know if there was a typical elevation above BFE that people want or is normal for the area?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.