Overall I feel these are not competitive units in this market.I'm looking to value add on these units by possibly converting the garages to living areas instead and hoping I can bump the rent by doing so.

The challenge this creates is it makes everything more competitive.

I've thought about out of state multi-family homes, but it seems like there's a lot of competition and for someone with little experience and connections it seems like I'll get the bottom of the barrel.I do like single family homes, but I'm a bit nervous about doing a rehab, etc. out of state, so it kind of takes me back to some of the turnkey rental providers.

If you can get in with a few heavy hitters, to sky is the limit. 

They're usually priced competitively because the costs to bring everything up to modern times will be extensive.

That gives me some wiggle room to stay competitive with rents and not feed my investment. 

Traditional multifamily units are not as common here as in other areas of the country so that makes the market very competitive.

This will hit me heavy on the front end because now I will essentially be out another 10K, which is certainly more than I was anticipating, and we're trying to figure out how to make that all work and keep our own roof over our head.

i would very strongly recommend that you put the new wiring in for a couple reasons. 1 is obviously most people who are looking at older building wiring is going to be one of the first concerns that are going to pop into their mind so its good to be able to put those concerns to rest. second reason is just more personal. if you are holding the property to rent to people and old faulty wiring caused a fire and someone were to be hurt i think that would weigh very heavy on your conscience. i understand we are all out here to make money but wiring is a major cause of fires and i think we as a community have a responsibility to put people into homes we would happily put our own families in.  

PPC runs 50-200 dollars a lead, depending on specific market and level of competition. it's roughly 1 in 20 leads turns to a conversion or about 5%. so on the high end 4000 a conversion low end 1000 a conversion. this is backed up by text and email. so i build them all in for cost. this doesn't not include any overhead just the marketing.