.$2500 seems high...not sure on sizeFlooring seems high - not sure on size...regional flooring companies in my market are very affordable and reliablePlumbing and electrical - I don't have plans to re-plumb or re-wire units every 20-30 years but do include estimated cap ex for fixtures.Off topic but consider LVT rather than laminate wood...it's very durable and can get wet.  

It can be a good idea in some circumstances, but I'm just curious how you numbers afford it.  

You'd make some mistakes, but then again; if you can buy a 2X$750K house for $45,000 you can afford to make some wrong turns before you find your way.:)

I have a lot of MF experience (enough to get a loan for a 20-unit, say), some cash (the least of our problems is finding cash to invest), but less time than I'd like due to health reasons.

That way you can know how much you can afford.

I don't read the news much, but I can't think of one time either of those two places made the headlines unless there was a tornado or something...And just to handle a potential objection that always pops up when people decide to invest 1,000+ miles away from where they live:Objection: Properties are more affordable there than where we currently live.Objection Handler: You can get a "more affordable" meal off the dollar menu at McDonald's, but I bet you don't go out to eat there on a Friday night. 

If you can't afford the loan at 11% (hml), then sell it for $1.7m but you do the work & get paid for it.

High end SFR in our area will not way run 30%I suspect he self manages... as there is no need when you have a single tenant that can afford 5,700 a month probably a higher up at MicroThese type of tenants often leave the home as clean as the day they moved in... other than touch up for paintings that were hung etc. and your correct in our area on the west coast appreciation is what we invest for..

I know CA is quite expensive but I be the area areas within 90 minute drive that are more affordable.

Since she doesn't make a lot of money, she can't afford to pay much in rent.