. - I did a test post on Craigslist Marketplace and it did get a lot responses the one day it was up for two listings.

They are at the mercy of the lab doing the testing.

There are a few more unaccounted expenses you will surely have.Since this is a Test budget, let's rework it and see what the diff is.Andres Alexander"Handy Andy"Investment Remodeler

The GC you use MUST be knowledgeable in the 203(k) process, as it is bureaucratic and paperwork intensive. 

The front end purchase, the back end refinance and the hard money costs can be capital intensive depending on specifics.

STR can be very lucrative but they can also be very management intensive and your buying criteria is really really important.

I would also spend time reflecting on the mistakes of the first property and consider whether extreme leverage, and correspondingly thin cash flows, was one of those mistakes.Always buy for cash flow and stress-test your deals - even on a duplex. 

The seller accepted.One of my contingencies was that the land would need to successfully pass a percolation test. 

Running a 3rd party management company is much more labor intensive than the management of your own propeties.

When you go to install a new fan, turn the switch and nothing happens, your patience will be tested.