Cost to replace.

For a duplex that you're renovating and potentially BRRRR'ing I would look to target to get 80%+ of my cash back on the refinance and then cash flow a bit less - maybe $100-$150 per door.  

This wouldnt work for a new STR being placed into service - I'm not aware of any way to use the potential STR income in DTI with Conventional for a property being purchased. 

I'm in the process of setting up an investment fund and I'm considering two different deal structures to offer to potential investors.

However, in 2-3 years, they will require regular trimming, which will cost money.

Just so you know on my newest purchase I am looking for renovation money as well as financing and the bank is looking for formal quotes as to the materials needed and the amount/cost of the labor that will be involved.

@Roy Gottesdiener What you don't cover is the growth potential for the six single family homes you currently own.  

@Ashish Wa you always end up getting exactly what you paid for.You should only go cheap when YOU know exactly what you are doing.Newbies trying to save pennies, almost always cost themselves dollars via their mistakes.

Meeting potential tenants in person can give you a better sense of their character and reliability.

I have about $150k cash on hand as well as I am planning to get a construction loan to cover the remaining cost of a duplex.