The cost per sq ft is not accurate enough to kill the deal.It is used, as you are as a starting point for consideration.I suggest getting some hard numbers quoted on the big ticket items ie, HVAC, plumbing , and electrical and the rest is relatively cheap.Pricing per square foot works better with new construction, anything can happen in a rehab.

Expect higher then normal maintenance b/c the tenants here tend to call you about everything and if you don't fix the items, they will call the BBB and make ludicrous online post.  

If you have a traditional IRA You don't pay any taxes until you take the money or property out of the Ira.

I may consider using traditional financing If I can...  

What I would do is get a licensed GC to view the properties and give you a line item quote to do rehab on all unit, and the outside, and bundle that into your loan/cost, then move fast!

There are some solid older neighborhoods with those colonial traditional homes, but they aren't really rental properties.

If your traditional retirement vehicles amount to about 10% of what you want your total mortgage balances to be, you're fine no matter what. $1,000,000 in mortgage debt * 6% = $60,000 = $100k in 401k/IRA * 60%.For everyone else, it matters how many financed properties you have. $400k in debt across five properties will have higher reserve requirements than $700k in debt across four properties. 

After some pushing we finally got the signed and approved itemized bid along with the 25% deposit on Saturday ( 2 days before we start work...)later in the day they asked if we were licensed and bonded.

Another way to lower capital gains is to sell other related items at a loss.  

The other item I didn't budget for are repairs, although my reason is less than stellar in this case.