The big brokerages do offer great support, but your fees will be high.

@Joseph Turner, if you're looking to buy in CA areas with high levels of appreciation, I've had clients take out a HELOC or 2nd mortgage and pay back the HELOC or 2nd with a cash out refinance once values appreciate. 

I am getting quality information for my recently founded obsession for real estate.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If you were going to ballpark and complete gut and builder quality finishings( luxury laminate, non tile bath etc), what would it be for a 1600 sq ft 2 story colonial? 

It can be better to often estimate repairs or replacements on the high end and get a credit so you can choose materials and quality used and potentially pocket any unused difference.   

If anything, it's a little high.

Highly recommend our realtor Candace Pfab!

However, she did warn me that both HELOC and DSCR rates are insanely high at the moment, but she said that it's a possibility if I can make the payments.

I would highly consider house hacking if that's an option for you.