The city (maybe state) banned STRs from some point in March until some point in June and again from before Thanksgiving for the rest of the year. 

I recommend you read the rest of it carefully to understand what else you agreed to.This is not an uncommon charge for Property Managers.

If those ten houses cash flow $200 a month, that's $2,000 per month income without you ever swinging a hammer the rest of your life.

And the rest is history. 

In my market, as flippers have reduced their activity, distressed inventory is also going for a discount relative to the rest of the market. 

I could make this really "smart" and more complex by factoring in additional variables into my formula, like current vs. effective age (if I make a repair the lifespan of the appliance will be increased), time value of money, efficiency of newer appliances vs. old ones, etc. however my goal wasn't to get overly complex, and just make a simple formula to make better data-driven decisions on this semi-frequent occurrence.To use the formula, you would just enter/change the values highlighted in yellow on the spreadsheet and the rest will auto-calculate.If you spot a simple way to improve the formula or think I forgot about something, please let me know and I'd be happy to improve the formula.

The loose wording stems from my loose and changing feelings about it.The rest of the advice I'm really digging.Thanks again for taking the time to evaluate and offer improvements on my approach!

Here we get a few good months out of them and the rest of the year its basically a hole filled with nasty tepid water or ice so a lot of buyers might just see them as money pits. 

Originally we had discussed the idea of doing an installment purchase with 75k down and 20k a year for 3 years and the rest of 365k in 3 1/2 years.

@Bruce LynnVery great ideas to create more income but currently I am a truck driver working 14-16 hours a day 6 days a week driving from Chicago to neighboring states so the little free time I do have I use for research and some rest.