On a related note, for budget planning purposes, what do you pay your attorney?

My concern is not properly planning my renovation budget.

Get rid of debt, build a budget, and save.

I've been seeing things hovering around a 6-8+% Cap.There's few enough on-market multi-families that you can (and should in a new area) research the areas around each one that interests you and fits your budget. 

There is also an addition in the back of the house which doesn't have terrazzo flooring.I believe I have four options:1: Remove old tile and refinish the terrazzo floors and throw laminate flooring for the addition2: Remove old tile floor and throw laminate flooring so that all flooring is the same throughout the house3: Throw laminate on top of the existing tile4: Remove old tile and refinish the existing terrazzo and new terrazzo flooring for the addition to match the rest of the property.I will be using this as a rental, I want to be budget friendly but I dont want to waste money in the long run.

I ran all the numbers prior using mortgage calculators so we already began seeing properties with a certain budget in mind.

I did a cheap property for my first one and only put $23k down and wrapped my payments to myself into the renovation budget so I had money to live on while the renovation was happening. 

There is no rehab budget so how do you come to an ARV higher?

These are real costs you need to budget for. 

Keep tabs on new age techniques (resin, etc.)Hire a live in manager resident that will gain ownership of the property through proper management and monthly dues that cover repair budgets, taxes, insurance, amortized purchase of the property, and management support from the GNA.GNA marketing: Looking for an apprentice steward for this property, and a partner in the long term equity to be gained from the property.