While it does add extra time and cost, I think it's worth it to have a more finished looking project 

House hacking it for a year or so, could allow you to build up extra funds for a future down payment, furnishings, and other costs. 

Utilize the 121 Exemption: Use the $250k (single) or $500k (married) tax exemption after renting for two years to supplement long-term care costs.3.

Black cabinet hardware and changing to a black sink to match the other appliances would look nice though and wouldn't cost much

The biggest concern they are having is over dramatically increasing costs...not so much with rate, but with items like taxes and insurance.

We have a great house we'd love to get but we cannot quite get the down and closing costs right now.  

I currently have 5 mortgages but have not been great at keeping track of the details such as costs associated with each individual property.

But you will increase costs in regards to insurance or lending..You still risk losing the property to any liability that happens at the property or in your personal life.

For example,Late RentInsufficient FundsUtility ReconnectionReissue CheckA/C Clean ViolationPest ControlRenewalMove-Out AdministrationUnlock RequestKey RequestFailure to Return KeyPilot LightingGrilling ViolationGarbage ViolationClogged Drain / Tub / ToiletWindow ScreenHurricane Shutter ViolationSmoking ViolationLease Amendment AmendmentPet ApplicationUnauthorized PetGuest ViolationUnauthorized OccupantInspection (due to tenant violation)Yard RemediationPool RemediationSmart Home Device TamperExterior Maintenance ViolationParking ViolationCommunity Amenity ViolationMarketing (tenant early termination)Notice (due to tenant violation) PreparationNotice DeliveryLien ViolationSubleaseAssociation ViolationEviction (not including attorney’s fees and eviction costs)Rent Verification10.

Has anyone on here done something similar and remember the cost or have an idea of what pricing should be (ballpark)?