@Stephen BensonRentometer is my favorite but you can also go on some local property management websites and look up properties to see what they are renting for.

Can we paint different colors?

The biggest disadvantage is you don't want to be too different (like different siding or roof colors) from your next door neighbor despite your preference. 

If your favorite uncle wants to give you your inheritance early, without paying a gift tax, then this may be viable.

LOL.You are by far my favorite CPA on here.

@Michael PlaksI see no issue S179ing 1245 property used in a residential real estate trade or business as long as it passes with flying colors the other provisions of Sec 179.My source for this is the highest level of authoritative guidance: Internal Revenue Code Sec 179. 

The painting costs seem reasonable, but exterior will vary greatly depending on how much prep work is needed, how many stories, if you’re painting trim a separate color, etc. 

Side-by-Side 3 bedroom duplex, in central Dartmouth a good hard working blue color neighbourhood.

Best Ever by Joe Fairless (one of my favorites)The Real Estate GuysWheelbarrow Profits by Jake & Gino

Most of my investors here in the Chicago western suburbs use the 5% down conventional loan, which is my personal favorite loan for the BRRRR strategy.