Maybe I am the one who is asking the wrong question :) In terms of the neighborhood, you can learn alot from demographic data(this tells you what it's like right now), sales trend data(this tells you how it's projecting - are you seeing an increase in property values) and new listings..are now homes being built, are other rehabbers in the area, are there LOTS of rentals or only a few.

So I started "questioning" them on their education and a comprehensive understanding of things such as certain aspects of renovating a property, or keeping track of expenses to come up with how to calculate reserves, what to do with problem tenants.My thesis is correct, all of these guru trainings are like an introductory course you could take at a college and they have ZERO meat to the bone.

The only debt we have a 20 year loan I took out (16 years remaining) left for home renovation with about $35k remaining at 8%. 

Every single construction project I have ever done (and we've done dozens of them now) has gone over budget. 

I am currently  working on a renovation and looking for another rental unit myself.

When I renovate a property I try my best to tenant-proof the property as best as possible without sacrificing cash flow.

Hi Bigger Pockets, There is a Granny Special in my wife and my neighborhood that we are considering renovating for our primary residence.

Currently the area is a little rough but many remodeling projects are taking place which is part of what is helping the appreciation of property in the area. 

This metric helps answer the question if the return on capital invested in the project is sufficient to overcome a project’s initial cost.This is beneficial to look at in development deals and value-add acquisitions.The formula:NOI / Total Project CostWhat’s a good Y.O.C.?