I've gotten 3 quotes for an approx 400 sq foot master suite addition (plans already approved by the city) and the least expensive was $150,000 - tile, fixtures, etc not included.  

If the company is good in the business, it would be happy to provide customer references.Do not forget to ask what services are included and how often property manager will communicate with you.

Been doing my stuff for a long time and works with several real estate investors, including some from out of state.  

Also keep in mind I did not include any closing costs or payments and expenses you will have during the holding time while you rehab.  

The market dictates everything, including the rehab...but especially it decides, before you start lookingat properties, what market to invest in...or more important, which markets to NOT invest in.Once you find the right market(s), then you need to find the micromarkets within that market...and there are usually many.

Freddie:6 months of PITI for all investment properties, including subject.I do both.

What information should I include in my posts to make it easier to help answer my questions?

Those risks include higher tenant turnover, tenants can tear the property up which leads to higher maintenance and turnover costs, eviction costs, and more.  

"House Hacking" is another way to go for you and can include rehab money needed as long you are willing to live on premises for a year.  

In the event of divorce she would keep all of her property that was hers before marriage - including your house if you sell to her.