Adding bedrooms or bathrooms, low price per SQFT, etc.    

(emphasis added).Unless I'm misunderstanding you, this is a formula for disaster, Perhaps you're suggesting @John Keenan load up his offer with contingencies that will allow him to bail out later when he's finished his homework?

I use Google Drive and Dropbox.

Found something on google saying the fair market rent for my 3 bedroom in Lawrence, Indiana would be $932..

If i get to the point I need to replenish because I dipped below that level, I stop taking a monthly check and refill the buffer.I use this spreadsheet to account, it came from BP library but I corrected a lot of the formulas and look up tables and added several lines for income.

But read those fine print terms because usually if not paid 100% in full at the end of the grace period there is interest added to the statement from day one.

It "looks" acceptable, maybe C class, via google streetview, and the crime stats are acceptable to my risk tolerance. 

Episode 113 -Jay Papasan - Partner of one of the best selling Real Estate investment books, "The Millionaire Real Estate Investor" and Jay gives really good practical advice to building wealth and sincere logical.Tax Strategies from CPAs Episode 269 - Amanda Han and Brandon Hall (New Tax Codes and Your Investments) Episode 244 - Linda Weygant (Understanding the Tax Benefits) Episode 196 - Brandon Hall (Tax Strategies to Help Your Real Estate Business)Favorite Reads:A Helpful Book List by BiggerPockets: BP Book List LinkRich Dad, Poor DadFlip: How to Find, Fix, and Sell Houses for ProfitThe ABCs of Real Estate InvestingThe Book on Rental Property InvestingThe Millionaire Real Estate InvestorI appreciate you all for sharing and adding value!

The remodel would include structural, electrical, etc. for both rooms and adding a bathroom that does not currently exist.

If you have positive MCF to start with, all you've done by paying a higher DP is "buy" the added MCF.