Also the 1% rule is about as good as the rule thumb and not based on current conditions or current data. 

Hi Jared,Welcome to the community, and congratulations on finally jumping in!

You can use Airdna & other STR estimator tools to get data on potential income/vacancy based on your location and property size. 

Old thread but we opened with Frost Bank, my representative had to consult with many people but finally we opened child subseries LLC.

My goal for the team would be to have one project under-way by EOY.The exit-strategy of each deal will be dependent on location, market data, and ROI comparisons to determine the best route forward for the team and our goals at the time.

I have been all of the place on my investing journey, but feel like I am finally starting to tighten up my criteria.    

But it should only be attorney cost, the deed and recording fees (few hundred) , maybe a final water cert.

Did you notice which of your updates made the biggest impact on your final sale price?

Also would love to know from other members how much they spent on the last project and what is a good contigency to put on the final cost for a first timer.

EXAMPLE: a local HC has a single comcast email address for their entire office - mysteriously, they seem to be always losing emails and asking us to resend multiple times.The good news is they finally increased their max rental amounts a few years ago, so they are now more competitive.