Louis, do you have any guidelines you’d recommend such as aiming for a larger city?

Is there a rule of thumb i should be aiming for?

We have also learned that we both have a great path in order to fulfill our purpose and Real Estate Investing is still something we aim to achieve on this path.

Will replacing carpet & pad, and all new paint take care of it, or are other measures in order?

I think it sounds like a solid deal overall if this is the type of property and market you're aiming for.

Aim for the forest, not the weeds.

Since that measure has two parts, a change can be driven by, one, the other, or both.

Additionally, for water/sewer, you can call the Public Works of that town and and find out the average cost per bedroom (water/sewer is going to be measured per consumption) and budget accordingly. 

@Yonathan RandolphYou can also send the meters to the county weights and measures department that the meter will be located in.

As an investor who is aiming to acquire my first property by the end of the year, I am currently performing analysis to select an out-of-state market.