Do less - then obsessDon't try to read about macro-economics, deal-making, DIY electrical, property management and landlord/tenant laws all at the same time. 

Purchase price: $280,000Down payment: $20,00030 yr fixed @ 4.25% (No points) Closing costs: $6000 Rehab: $2000 Principal+Interest: $1280Taxes+Insurance: $600PMI: $190Vacancies: 5%Repairs/maintenance: 5%Cap-ex: 5%Monthly expenses: $~2500Monthly income: $2900Cashflow: $400/monthCoC: 17.18%A couple of things to add: I have analyzed the deal as if we were not living because we will most likely move out after 1 year and keep it as buy and hold propertyBoth units are sub-metered electrical/water and tenants will be responsible for utilities No HOA duesThis property is in a flood zone and will require flood insurance - I have been given an estimate of what flood insurance would cost on this property and have over-estimated generously on this expenseThe property is in good shape, as far as we know their does not seem to be any major rehab issues.

HOA covers all ext. maintenance roof, side etc. and landscape / snow, but I will adjust and say $60 monthly for CAPEXCleaning fees, W/S, Gas/Electric for the year will likely be around $3,800 for the year.My all in costs for the year will likely be around $78,000The estimated revenue from Airbnb/Short Term rentals will likely be around $144,000 per year.

However, the key to the success was the fact that the house had a layout where adding the bathroom was relatively simple and straightforward (no need to deal with load-bearing walls, no significant re-routing of plumbing, electrical or HVAC, etc.

There cost for the infrastructure (new sewer/water/electrical/roads) was about $15k/site.

If not I understand I see people make similar threads and get screamed at, but like I said about 1000 ft2 on 3 levels, 2 baths, gutted to the studs.Plans - to draw all the plans structural, mechanical, electrical, and plumbing and take them down to DCRA and get them approved he's charging $3,500. 

In most juristrictions, how you internally partition (non-structural) a property as long as there are no electrical / plumbing changes is fine.

We needed electrical to go through and do their thing before we could button up ceilings, and move to texture paint and floor. 

The second and third floor share utilities, with the second floor covering utilities for the third floor, and the tenants agreeing upon the set temperatures, etc.The appraisal came back and said the appraised amount is contingent upon "proof that the third floor has all proper permits (building, electrical, and plumbing)."

One thing I learned from my contractors is that when you see shoes hanging from electric wire, the color of the shoes indicates the type of drugs that are being dealt within the close circumference of the shoes.