What amazes me is the number of people coming here for advice that haven't even been willing to put in a ten minute Internet search first.

Ida Saidkariev in my opinion the house is one of the last pieces to the puzzle.First pick a market you like okay this may be the city you want to purchase in.Now second you need to find a property manager who can guide you on which neighborhoods to buy in.I would not put an offer on this property until you know the neighborhoods better and find a pm first.Also when someone is going to invest a large amount of money I always tell people spend $1000 and go and fly out and your the city you cannot get to know an area over the internet and you cannot trust other people's opinion it's your money at risk.

I always do time and materials with contractors, and pay when work is done.  

A quality BR policy provides replacement cost coverage for materials owned by you and your subcontractors, have no exclusion for theft, vandalism leaking pipes or water damage.

Then start subtracting your cost of materials: $8 each belt (*10) = $80 .75 cents each edger disc= $75. 5 gallons of poly= $200 (if you're buying decent poly). 2 gallons stain = $804 screens $30Buffer, drum, edger rental $350 or moreNow you're fast approaching $800 in materials and rental equipment, plus your 4 days of labor and opportunity cost.

I think it would look good with a fiber cement shingle or certainteed fake slate in a charcoal grey for the roofing material maintaining the angle of the roof and then doing horizontal siding over the garage roof area.

Even doing all the work yourself it is easy to surpass that in materials especially if you need a roof or anything major. 

The internet (craiglist, zillow, realtor.com) has got to be the best source out there.

One thing I realized that many use the Internet to make emotional sales.  

I've searched all over the internet for some insight into this, but figured it was such a specific question, that the Bigger Pockets community was my best bet to finding some advice/answers!