Figure out the pros and cons of different styles of investing and start planning.

What I would pay...give or take:Gut rehab - $40/sfNew construction - $65/sfNot saying you'll get those prices (could be higher or lower given you probably have different contractors, different design style, different definition of mid- to high-end finishes, different material suppliers, different negotiating skills, different level of experience, etc), but that's about what I expect...

@Michael Noto I have a side by side townhouse style duplex with finished lower levels that are 1500 square feet of living space each.

Sometimes you get into neighborhoods where this doesn't work so what you're left with is same square footage +/- 10%;  same style;  same category of house (SFR, multi family 1-4;  ...)  

Househacking Billionaire Style. 

Some tenants do miss a point or two on the first run through, but as they settle in and adjust to our management style they usually catch on pretty quick.

With prices the way they are ...it is out with the old and in with the new style.

Change the light fixture to one that is more fitting with the style of the room. 

I've used a Tilt n Turn (euro style) window for this purpose and it is much less expensive than the $2500 range I am reading here.

Based on the modest style of the home, I'm leaning more toward Home Depot appliances and finishes than luxury.- Renovation includes making two 1st floor beds into a large master with an ensuite and expanding 2nd floor bath, plus paint, carpets, etc.- Prospect #1's contractor's estimate is $60K.