Be sure to plug into your local BP community through meet ups and investment groups - if you have time with your three little ones :)! 

My tip to you would be to plug those numbers in the free rental calculator here on BP or create your own like I did.

I think the best way to do what you are looking for is to plug into an existing operation that is already at the level you want to be. 

I'm a major DIY'er so I've learned how to do many remodel type things, like ceramic tile, ceiling fan installation, minor electrical projects like fixture/plug replacements, small plumbing repairs, professional painting/caulking, and most recently brick repair and fence repair in a not-so-square portion of the fence.  

I've probably looked at three or four dozen listings from them over the years, and with 100% consistency I find the final equity in the deal to be less than 10% once I plug in accurate ARV and rehab numbers.  

The best thing is to get a really good grasp on what your gain situation is and then you can plug in scenarios to see where you'd be at tax wise with each level of replacement.

Russell  ,,, I see it as highly regionlized... poeple get on this site and say they are buying 2% rule and 3% rule deals all day long.. and that leads folks who live and invest in areas were that is not possible to think they are doing something wrong.each market dictates what the market will give.. can someone stumble into or work their butt off and do better than norm yes.However there are areas of the US were the market has never really recovered and has been flat for 30 plus years.. or there are more homes than butts to put in them.. cant compare them to high end urban areas..  

There's no reason a real buyer would think having a unit occupied would be a bad thing, unless the tenants aren't paying or are being a pain in the butt somehow... 

This will be an easy way to meet some of the local investors and see where you can plug in.  

I was not paid to plug that.