@Eric Gutierrez I'm curious how your repairs/capex on the older properties compare with the ones built in the 50's?  

Some institutions have their own internal rules.  

When you refinance a property, it's already in service, thus no adjustment to depreciation.Special rules apply to primary residences converted to rentals.You should understand how refinancing a property will limit your ability to write off the interest.

And once you know your situation based on your jurisdiction (see your relevant landlord tenant rules too) layout, and situation, you have two choices: (1) DIY or (2) Hire it Out. 

Hi guys,I have 3 questions about the 1% rule for rental properties.

I think I can build the second unit for $50-60k, but what it will appraise at is the big issue, as there are no comparables in my area that I or my realtor could find.My last house the FHA appraisal came in $10k less than the offered price, so even if the rent income justifies fully a $300k or $350k mortgage, if the FHA appraisal doesn't agree, I am screwed, this time for a much bigger amount.Certainly the difference between $250k, $300k, or $350k is huge, one has no profit, the other $100k profit!

Here on BP you can do that by adding a picture to your avatar.Understand that beyond understanding the technicalities of rules and regulations, real estate is about market conditions and helping people to get to yes.Get to know your target market like no one else.Develop your ability to empathize what's going through a buyers head and a sellers head and figure out what you as a real estate agent can do to address concerns.Neither of these are limited by your age.Good luck!

Either invest elsewhere where properties are much less expensive or partner with someone and do a 50/50 deal where each party owns half of the property.

.- Additional subfloor (wood) and cement board (floor) $100- Shower cement board $75- Waterproofing Membrane (I like to do this) $150- Shower wall tile (80-90 SF) $150- Flooring tile (30-40 SF) $100- Tile setting and grout $75- Vanity with top and mirror (24" it looks) $250- Toilet, wax ring and feed line $100- Faucet, feed lines and trap $75- Trim $25- Accessories $40- Fan/light $150- Vanity Light $50- *Shower diverter valve with trim kit and plumber to install and help set tub/drain. $750- Screws, adhesives and fasteners (cement board screws, caulk, etc) $50- Paint $40- Miscellaneous $100TOTAL: $2530With all of that said these numbers would be my BASE run, and assuming I was spending my budget amount on each item.

Try: "sample lease" and "lease clauses"  .Modify anything you find so it is in compliance with the landlord-tenant laws for your jurisdiction.Also, don't forget about establishing property rules.