The government pays part of the rent and tenant is responsible for part of the rent - the ratio is determined by the government.Pros - government guarantees the rent and depending on the situation, the rent checks are virtually automatic and like clockwork.

That is before other necessary costs such as utilities & water and other basics that are not necessary but often included anyway like phone, internet and cable. 

I guess I need two spreadsheets with each scenario trying to determine which to go with? 

Trying to determine whether this will cost me less than 2k...

Patrick, have you determined the areas you will invest and how you will be financing your buys? 

Do you know of any good resources on how banks determine "cost to build"?

First, determine what the situation really is and extent of the problem.

You seem like a smart kid so I'm sure you know what you need to do, I just hope you have the courage and determination to do it!

State, city, town, house  all matter for determining the costs.

You then should examine the market rents for similar properties to be certain they are "under-rented," and determine what upgrades, if any, would be required to get the higher rents.