I don't know how to do the 1% rule because the listings I find don't tell me what a potential sensible rent would be (and the other properties around the area vary wildly by type, size, renovations, price, and everything else).

Cleaning and renovating cost me about $3,000 and a little elbow grease.

I know the larger properties look great when they rent for $400+/night but that is where most of the headaches occur. 

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

I initially looked out of state because I was trying to acquire larger properties and couldn't find deals locally that made sense.

Reason being none of the duplexes in my target area have been fully renovated.

Renovation is about 1k more then I had anticipated (which isn't bad).

Plus, you'll learn a lot more by going through the renovation and leasing process. 

It's all about purchase price, renovations, and the ARV

If you are just starting to climb the real estate investment ladder, the tendency is to go after the smaller deals first with hopes of building up confidence and your bankroll for your third or fourth project...so keep that third or fourth project in mind right now and get a larger than needed LOC. 3.