I consider Property A an "A" because it is in a "recognized" school district, established neighborhood, homes are well maintained and manicured, close access to shopping, entertainment, freeway, etc.

If you can't get a contractor over there right away a ballpark figure of $20,000 per unit for carpet, fixtures, appliances, stripping wallpaper, texturing, painting, new windows, wood pest repairs, landscaping, systems repairs (heating, air, plumbing, electrical, roof, siding, doors) suggests a budget of $80,000 or more.* Hire professionals to do all the skilled work.

Entertaining and educational.

You cannot be the nice guy, you must be respectful but demanding of what you asked for.Get referrals from as many pros in your area so save you the headache of hunting down good workers.Get multiple bids on everything.TRUST YOUR GUT.Don't take referrals from unexperienced rehabbers (this one cost me dearly).Create an contingency fund for when you go over budget because you will.

Budgets the money for the manager when you decide to move away from doing the management yourself.

But he knows that I need to have it rehabbed and rented for 30k max, with a 10k reno budget, meaning a max purchase price of 20k.

I'm talking about ones who live beyond their means and don't know how to budget.

As such, it's possible I could come in $10k under budget, effectively making this deal 100% financed.

Sure some moves will happen, but much less than normal as people budget for how to pay for Christmas.I'm in the same boat as you with a vacancy right now, two to be exact.

We budget $800 for an eviction to cover attorney costs, filing fees, processing fees, sheriff service, and all other associated costs.