Minutes away from Sanibel Island.Main house is a 3b/2ba renting for $2600Duplex on same lot is 4b/2ba split into two 2b/1ba collecting $1900 in rent EACH.Purchase price of home was $662,000 with closing costs wrapped in.

What if it costs 20% to sell?

I know cost is a factor but think about overall functionality and does it do the 7-10 things you really need? 

I got an appraisal prior to starting and my numbers looks like this PP: 137kClosing costs:5kRenovation: 230kprojected holding costs: 26kARV: 620-650KEstimated rents: conservatively--> $4400/month.

If you are looking to rehab, it is more efficient and cost-effective to rehab all units at the same time. 

if you just pick something online and buy it - you will lose money.I like @Jake Andronico's post because he's recommending a higher cost, closer area. 

Looking out for suggestions @Kaushik SarkarIf the equity in your properties is your only source for new investing, and the new property you are buying still cash-flow's with the cost of your borrowed money (from your properties), there is no reason to not use it as an investment vehicle.  

Have not had a 'issue' selling in the past five years..I would say the additional development cost of an extra bedroom/bathroom are probably well worth it in the long run..Good luck. 

But I guess a lot of you seem to think that extra cost is negligible if I am refinancing anyway.

(Loan to Cost) Can you find a private guy to lend you high LTV for short term?