My area it is $6 sf to replace. 2000 sf*$6 sf=$12000/10 year life span/12 months in a year=$100 per month. 1 item already exceeds your capex budget.

My rehabs almost always have something that pops up and makes it go over budget. 

This is all not taking into account the fact the city of Baltimore will face a huge budget shortfall, which will lead to more problems in solving basic city problems.

Do you guys tend to split the down payment and rehab budget 50/50?

For example, if you only planned to have the unsecured loan for a month or two, but the seasoning requirement is 6 months, you'll want to budget for the higher interest/payments for those additional months. 

I am starting to budget out and model some potential projects for MF developments.

@Calvin ThomasThanks Carl,I’m hearing lots of great things about Stamford,but 400k is out of my budget.

Ok that doesn't sound like too bad a property I'd get through the must do rehab items and see how your budget has held up, but from these numbers I'd most likely leave it as is. 

Depending on your budget the central part of the county, Millsboro in particular is growing rapidly, rentals are in high demand and will garner higher rents. 

Depends on the individual investor, their current age, etc.Someone's idea of retirement might be living on 30k a year and traveling the world on a shoe string budget.