My concerns are: -Some of the electrical isn't wired properly (double tapped)-furnaces 50+y old -various locations of water supply line show signs of leaks at some point-galvanized steel pipelines.

-i don't know anything about your market, but it seems very unlikely to me that you could double the ARV of something that is listed on the MLS via just a cosmetic rehab. 

I have clients house hacking with STR and their water bill alone doubled.

Double check your numbers, check vacancies, how often turnover happens. 

We have a 4 unit with an exit strategy issue. 3 of 4 units were renovated—doubling rents and bringing to market rate, but we now have 30k in debt that we want to remove from our ledger.

BUT…I think you need to double your management fee to at least 8%.

Once you find an area you really like double down on it. 

I sold a townhouse to some childhood friends in Hyde Park years ago that has practically doubled in value in the past 5-6 years. 

I strongly recommend getting with a local STR PM and double checking their DD with AirDNA before you go that route though.

Really Feel like I/we have nailed down that best balance of Price/Roi/location here in Metro Detroit My rental portfolio is here and performs extremely well with minimal headaches.Purchase: $80k-$130kRent: $1200-$1500ROI: 10-14%Cash flow: $250-$350/doorAppreciation: Double digit (for past 10 years, will gladly send data)Location: C+, B- (suburbs and certain markets)Basically 1.2-1.4% dealsWe have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.