Or, more to the point, you need to know the basic formula to arrive at a cost basis for which you can build on.I use the spreadsheet evaluate various deals that come across desk.

You will have gotten results.This is aimed at two types of people here on BP.The first type of individual that I’m directing this toward is the complete newbie; that is, the person that has just arrived within the last few days or weeks and is floundering around, having no idea what the next steps are.For you, I recommend following the advice I’m going to give below AFTER you read the Ultimate Beginners Guide at https://www.biggerpockets.com/real-estate-investing and make a plan.I am interested in your plan, so feel free to map it out and tag me in the plan.Other people on BP can only hold you accountable to your plan if we know what you’re trying to do.The second type of individual is really the reason I’m writing this post.This is the individual that has been on BiggerPockets between 6 months and 15 years that has not yet done a deal.I am writing this to you.I want to mentor you.I’m giving you free advice.I’m giving you advice that, if you paid me tens of thousands of dollars, would be the first set of advice I would give you.I would not continue our training until you followed this advice.No refunds.

When they arrived, there was nothing they could do.Owner number three took over after a few months, and he was mean tough talking guy.

I hope to pick up at least 1 additional rental while we are there.My wife will arrive in Great Falls a few months before I do, so I would like to have a house picked out prior to her move (Dec/Jan).I am also, looking for a REI group to attend, as well as, some contacts from the local area.

How did you arrive at the ARV? 

CAPEX: If you use a very sharp pencil, have an engineering background, and a crystal ball mind, you might be able to arrive a mathematical formula to calculate CapEx reserves.

And the nice part about section 8 checks: there is NO question when they will arrive.

The difference culturally between these cities and surrounding towns is quite stark to someone arriving from a major city or foreign country.

That then showed how I arrived at my projected cash flow per month. 

I do 30 day minimums so pricing depends on season and how close it is to being vacant.I use a heavy-duty lock box on the gas meter out front since it is a condo building a smart lock on the entrance door still needs to be negotiated with neighbors.It was surprising to me that people seem to prefer or at least not mind the lockbox since they don't have to arrive at a specific time