You can wargame scenarios to decide what you think is best.On the other hand, that is a pretty sizeable rehab budget. 

You'll still need some liquidity for reserves and to be reimbursed for work completed in draws, however its usually limited to 10-20% of the rehab budget needed in reserves to make the deal work.You're welcome to DM for more details if interested. 👍 Good luck!

If you do budget that much, the you will easily hit your profit target.There are currently no restrictions in Lewis county and STRs work there, but there is always discussion on them by the city.

I’m from the NYC area, but the prices here are out of my budget. 

@Logan RheaReasonable budget for a cosmetic only renovation of that size.

We are also wondering whether it would be better to try and find something located closer to Nashville within 5-15 minutes that may not be as nice of a home or property for our budget or find something that is around 20-30 minutes from Nashville in the White House Tn area, but a nicer home within our budget.

A lot of the success stories and content we’ve seen in the past came from a very different rate environment, so I’m definitely factoring that into my approach.For now, I’m planning to focus on the Jackson County/MO area, specifically around Lee’s Summit where I have some local support from family.

I would slow down and think about your BUDGET, what you can get for $30k, and how you can increase your income.

That was the only production schedule I was given even though I specifically earmarked the buildings I was purchasing in the project.

With that information, you can start to get good at estimating the rehab budget.