If he is legit doing his job, he needs to verify that no new comps popped up or market conditions changed that significantly change his estimate of value.

Where there is no contract for rent, there is no real chance of a small claims (or a civil suite) awarding you back rent (unless the squatter is really a tenant who is overholding).  

For example, I have rehabbed quite a few units and my rehab cost is always over my estimate. 

@Mike G.Realtor.com estimated appreciation at 6.9% for 2018.

Chance (and a small world) aside, I'm very excited to begin this journey.

Times 2 years, and you'll be $3k short of your projected expenses.Now add into the mix the increase in costs from what you are using now to estimate your future CAPEX off of, and you won't have enough money...even if all goes well.Saving for CAPEX through your cash flow is a losing option.Let's just see what happens if you do have added costs, and vacancies per year:assume 1 month vacant and one month worth of added costs per year, and you would end up saving only around $4500 per year.That would put you $6k short of your 2 year estimate, and (assuming you will only have the 3 years after that) $1500 short at the 5 year mark.The HELOC is there waiting for you when you need it.

Contractors- I am looking for a reliable contractor who can estimate time and budget precisely, and make things done on time and on budget.

Willie Rogers PM when you get a chance

However taking a few of these actions can help your chances of being ready when an opportunity arises.John

Our estimate came in higher than we could justify for the property so we trimmed down the scope of work and are going to handle some of the lighter tasks ourselves.