I'm finding that estimating repair/renovation costs is tricky, but probably gets easier with experience.Best of luck!

-I prefer newer homes / town homes because I frequently travel internationally and thus don't want to deal with frequent repairs.

Brief overview of how I've arrived at some of the numbers: - Comps in the area for the ARV- Estimated rental rates based on local similar properties (this place is currently vacant)-Estimating the repairs on the home in a general sense: 30k per side (still need to learn more on repair costs)Am I doing something wrong here? 

If you do have the funds, and want to do some of the work like installing flooring, painting, etc. yourself, I would skip the renovation loan and additional requirements that come with it and keep things simple.If you don't have access to additional funds and don't have the ability or desire to work on the property yourself, and the property won't qualify for regular financing without some of the repairs, then I would definitely recommend the 203(k) loan.

The quality of the area and your willingness to deal with different types of property will be important to help you understand how to run your numbers.

Contractor estimates 15-20k in repairs and the neighbor will sell for 50k.

Contractor estimates 15-20k in repairs and the neighbor will sell for 50k.

@Phillip Davis be careful of the repair number, I would use the breakdown on there to see where those cost come in and what will need to be fixed.

The neighborhood, property management team, and the house (condition, and quality of the rehab) will matter more than which of those two cities that you pick.

Thank you all for the info. we ended up pulling out of the deal due to a large amount of unforseen repairs uncovered during due diligence.