Until you get a system down, expect to look at 500 houses online, drive by 150, walk the perimeter of 50, look inside 25, offer 20 and get 1. 

It all boils down to the finishes and expected construction composition.

I believe the standard is a “reasonable expectation” of earning income from it... so 37 books and no property may not be viewed the same as 37 books and actually buying.

another thing that occurs to me is something that you should so anyway: regular inspections. quarterly, or at least semiannual inspections are a must. and make sure the tenant knows you're coming through at those intervals, because you want them on notice that you're paying attention (e.g. grow houses, broken stuff, holes in walls, etc.).

If you sell the LV property and purchase 3 new properties, are you expecting a higher rate of return than keeping the LV property and refinancing to leverage the equity?

@Logan Jorns, basically, as well as literal "cash flow" estimations, guesses are also made of the assets' future appreciation in value, and how that value is expected to be impacted by the future (lower) buying power of each dollar.ie.

Repairing a pipe of this type requires cutting out the broken section and replacing it with CPVC.

Many investors have different views on these things, but my thought is to be as conservative as possible and then be pleasantly surprised when my properties beat my expectations.

Exact thing happened to me and I expect to see more of this.

Not knowing what to expect is a huge disadvantage that will eventually have you quit.Want to know what this blonde monkey would do?