There’s a newly built apartment complex less than half a mile away that rents their 1 bedrooms and 2 bedrooms a few hundred dollars above what this place is renting for. 

Partnerships make RE investing exponentially more complex.

Others might have experience working in office complexes, industrial facilities, or even commercial strips malls.

a house is waaaaaay more complex as it seems, but you can do it Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I kept it short and sweet and said I wanted to help them find the right place even if mine didn't work out.

Sure, my track record doing a 203k myself and with multiple clients helped present the 'complex' unknown loan to the listing agent.

I think maybe there is a sweet spot between too little equity to even sell you the thing, and too much equity where they will clearly want to put it on the open market and take the hit on the condition of the house.

Anyway, again, I think your kitchen looks sweet!

I could make this really "smart" and more complex by factoring in additional variables into my formula, like current vs. effective age (if I make a repair the lifespan of the appliance will be increased), time value of money, efficiency of newer appliances vs. old ones, etc. however my goal wasn't to get overly complex, and just make a simple formula to make better data-driven decisions on this semi-frequent occurrence.To use the formula, you would just enter/change the values highlighted in yellow on the spreadsheet and the rest will auto-calculate.If you spot a simple way to improve the formula or think I forgot about something, please let me know and I'd be happy to improve the formula.

We are a residential and commercial PM company going after a large apartment complex.