Your investor is going to need need at least a 20% cushion in the ARV to validate his purchase.

It does depend on how much private space you're going to need as you mention you're sharing common space.  

In ordered to make money, your most likely going to need money!

Its a nice part of the town.I was wondering if its a good idea to have white color tones in the house ?

Although considering we will do our own property management initially until we scale, we are going to need such tools as screening tenants, online applications, and ways for tenets to payment online as you previously mentioned...

The current owner lives in the lower and we will have to tone down the paint colors.

Initially, my first reaction is that at the current occupancy level and your lack of experience, you are going to need a very experienced operator and a very strong financial partner.

Besides new flooring we also do 2 tone paint with crown, new laminate counters in bath and kitchen and if needed, new stove and toilet so we are spending quite a bit for each rehab. 

For buyers the tone is that there are good values in the market, but remember value is determined by demand, if you find yourself in a multiple offer your chances of getting the home by offering less than the asking price is slim to none.

better to have one and not need it than to need one and not have it.I am still trying to find a good attorney to lay a good exit strategy out for me.