@Jessica HowellIn the operating agreement we typically put like $1,000 as initial contribution.

You can also check local property management websites, they usually list current available listings with real market rates.

Quote from @Marcellis Mosby:I would bring the contractor with me on that viewing to get the full bid..

I think you really need to work with an agent based on what I am reading between the lines in your post. 

In the last year for Knox county specifically the median sale price is up 9.92% and the whole MLS is up 7.14% year over year.After beginning to recover in July and August, home sales throughout the East Tennessee region slowed up again in September which is somewhat expected as schools get back into swing.Mortgage rates remained below 7% for the entirety of September, for the fourth month in a row.

The credit union has shrunk the loan amount they're willing to go with to match the appraisal.

I'd recommend getting multiple quotes from service providers to see what pricing is going to look like per square footage.Without too much information provided and depending on the size of your home it could be anywhere from $5,000-$15,000+

I finally took the plunge and have become a real estate professional.

Property to purchase would be a STR at $240,000 - so we would need the 20% down payment and we are looking at different options as the source of the funds.

Just use the built in tools and go from there.