I was budgeting $30k a year for down payments.

@Corey Edge I agree with the guys above that it’s difficult to answer your specific question because there are so many sceneries and strategies that can be applied.I think the rule of thumb is always knowing how much budget do you have.

Listening to the bigger pockets podcast has gotten my business partner and I in the right mindset and after 7 months of searching for deals almost daily, we finally found one that fit our budget.

And, as others have mentioned, keeping in mind what the comps are (in other words, how much under market you are) is always a prerequisite to proper rental "budget" analysis.

I assume that capex expenses and changes in the market could be two, but wouldn't you just need to properly budget for the capex expenses? 

I plan to do a full fit rehab with a budget of $50k.

I want to use HML(hard money loan) for 85k purchase price, and use private money 24k for rehab budget!

What is the budget for renovation? 

My previous experience includes high end residential design but I'm very flexible towards a variety of styles and budgets.

I am currently a VP at a manufacturing company that casts parts out of aluminum for some of the biggest automotive, trucking, aerospace, and defense companies in the world.