But that Lake Tahoe 300k gross will help pay the luxury furniture bill very quickly. 

If stray dogs are running the streets, there's trash and furniture out on the curbside, and suspicious looking characters loitering around up to no good, it's probably not a neighborhood you want to invest in. 

YUP for a new construction is runs 2500 to 5k per house depending on how long the furniture is there and how extensive the staging is. 

Boasts in total 4 bedrooms, 3 baths, chef’s kitchen, wood burning fireplace, lounging areas & decks, custom 14ft x 7ft hot tub, in-ground swimming pool with cabana, outdoor 42" propane fire pit, 65 year old cactus garden, boulders galore, & incredible desert views What made you interested in investing in this type of deal?

We may choose to make it a 30+ day rental and see what happens but if the projections are close to accurate we will have worse cash flow and be providing the furniture, etc.  

#The House:Bought House for 455K, put in about 80K over the past few years, house is now valued at 600K.Rental should yield about 3K a month or 36K a year, and expenses for everything should be about 26K a year including all indoor, outdoor maintenance and mortgage payments. 

You may want to consider existing units since they will already be rented.Climate controlled was a must for us since we had nice furniture in the unit.  

So we then  painted the whole joint, repaired the rotted fascias, replaced the ancient AC/heater, new pool pump equipment, new concrete driveway to replace the crumbling asphalt, new landscape, updated bathrooms (resurfaced shower, nice, new cabinets/sinks, but off Craigslist), more new flooring extended throughout the entire house... even some upgraded pool furniture and a nice BBQ outdoor kitchen as we were told we are in a high end area that requires these types of amenities. 

Do it now and you will be happier you did.. of course once furniture is in it's not going to be as noticeable. but I'd still try and correct it. 

I'll go into the numbers below so you can offer a clearer opinion.If I build a duplex, it will likely cost $60,000 for the land, construction, furniture, and everything.