Assume you can turn your $110K asset after selling costs into 3 Memphis units that each cash flow $200/month after realistic PM, cap ex/maintenance estimate, and vacancy estimate (a bigger challenge than it may seem because maintenance and cap expense do not vary that significantly base on the rent as much as the unit profile (number of bathrooms, square footage, etc.); cheaper rents have a higher percentage of the rent needed for cap ex/maintenance. 

Screen your tenants really well and don’t give anyone any chances. lol Purchase prices are low, vacancies are about 5% give or take, but you will need to landlord a little more or fine a good property manager.

Any chance we can exchange ideas would be great.

After finally giving that podcast a chance I’ve been hooked.

As for fees other than appraisal, they estimated $600-800, but I current haven't received the breakdown.Curious if anyone has any experience w/ AndrewsFCU that they would like to share (FYI - I have done a search on BP and PM'd those who said they have experience w/ AFCU).Thanks!

Chances are any investment property line of credit will be a 70/30 LTV with a rate close to prime plus 1%.

Any real chance that it may happen?  

I was wondering if anyone had a checklist or tool that they used to get a rough estimate for repairs?

Most appraisals for multifamily include the income approach to value, so you can estimate how much value it will add.

To start, the numbers:3 bedroom, 1.5 bath 1700 sq foot brick SFH with bonus room.Purchase Price: $59kAppraisal: $105k as is with estimated $124k after rehab.Renovation budget: $20k.Renovations include: new flooring in bonus room, kitchen and baths. total renovation of bathrooms, new cabinets, crown molding (to cover bad drywall job by previous owner), buff hard woods, paint exterior, paint interior, remove awning, remove side door and seal up, fix low spot in kitchen floor, and remove the non-permitted fire place.Estimated Rent: Initially I budgeted $950 per month based on another rental I own in a similar location, but  two houses on the same block were recently rented for $1200+.