The renter is a quiet, mid-50 professional couple with no kids, no pets.

A $70,000 down payment will get you a pretty decent sized duplex or triplex in a market like Tucson or even better in some mid-west markets. 

There are extensive checks on credit, income, employment verification, etc that were not happening in the mid-2000s with the subprime mortgage crisis. 

This is further exacerbated by the population growth and migration to this area from larger cities in the Northeast and Mid-Atlantic where people are looking for a lower cost of living and an overall better quality of life.

So $74,000 = $78/sqft What I am asking is... from experience, what are the actual costs per square foot on average (In Tennessee) for a: -Cosmetic Job (Small project: paint, flooring, new kitchen) -Mid level Job (Needs new roof, HVAC, or foundation work) + Cosmetic-High end Job (Complete gut) -New Build Thanks for the help guys!

So $74,000 = $78/sqft What I am asking is... from experience, what are the actual costs per square foot on average (In Tennessee) for a: -Cosmetic Job (Small project: paint, flooring, new kitchen) -Mid level Job (Needs new roof, HVAC, or foundation work) + Cosmetic-High end Job (Complete gut) -New Build Thanks for the help guys!

We have since non-renewed the tenant and they left the property in mid-november.  

Thanks @Lee Ripma.Actually my goal this year was to add 2 more properties to my small portfolio. starting out last year i bought 2 rentals, and i wanted to get a 5+ unit this year or 2 sfr. i was able to buy and rehab 1 sfr in sept ending and got it rented mid oct and now closing on number 4 (the 5 unit). would love to get a 3 rd this year but will see.

Hi Greg,I know the area pretty well- from having lived in the Mid-Cities DFW area my entire life.

Typically mid double digits and several points.