My flight arrives at GSO at 5:30 pm. 

Usually bigger cities have a very big tickets when building, driving the costs up when you sell it.

They bought when Bushwick was crumbling and even before white flight.

Hi @Cassidy Burns:Its important to keep in mind that this software does not just doe the "management" (rent payments, service tickets etc.), it also does your accounting, allows you to take rent payments online from tenants, allows you to pay your vendors online, does your reporting etc.Even if you have only 5 units I think that is well worth it.

Repairs are smaller ticket items needed to keep things in working order that you expense on your taxes the entire amount on the year which the expense was incurred (Eg: leaky faucet).

We live fairly meagerly and splurge more on convenience rather than big ticket items (no fancy car, big house, etc.  

@Patrick Boutin, if you become pre-approved for $400k (per your example), @Chris Mason was implying that you should aim for your PURCHASE price to be about half of that (so as to give you LOTS of "wiggle room" for the rehab costs that you're asking about).A healthy rehab budget can be your best ticket to (cleverly) add a LOT more value to a distressed property than the rehab actually costs.

That will probably determine if there any unknown big ticket items.

Direct flights are out of OAK or SFO little over 3 hrs and can be had under 300/ RT easily.

An example of one of our personal criteria was: it needs to be one flight away from Norway, so we can easily visit family and friends.