The drafter will tell you what the expected timeline for design will be, timing for permits with city, what the lot and zoning allow you to do… etc The contractor : has to be someone that knows how to do the work (experience), is not too expensive so that the investment makes sense at the end, but is also not unrealistically cheap, to the point that they won't finish the project or they will simply run off with your money… Assuming you have an honest and experienced well priced contractor, then they will give you an understanding of costs for the entire project (a ball park bc you won't know 100% until you get RTI permits from the city (approval)). 

Thanks Your rental income (does not matter if long term or short term) of your schedule E is calculated using this form: https://content.enactmi.com/documents/calculators/Form1038.C...Your schedule C income will be averaged over the last two filed taxes returns.

We require all applicants to earn at least $72,000 per year to ensure additional living expenses can be comfortably covered…”

Conractors in N Colorado are just sooooo expensive.   

When I got in the business in 2014 I was told the average agent sells 6 houses per year, I thought that was crazy because I sold like 30.

It could be no big deal or a huge expense.

My average home is worth about $400k today (but I bought an average of about 7 - 10 years ago at and average of sbout $200k) rents for about $2,300.

You will be more frustrated with new ones, cus they can make your life miserable and expensive.  

Regarding finance, to piggyback off of others, a fix-and-flip or private loan to finance the majority of acquisition and rehab expenses is your best bet.

Additionally, you are then able to fix the problem without involving engineers and other costly expenses -- when a decent contractor could've remedied the foundation issue.