@Paul BjerkeTypically, you want to allow yourself time to make any necessary repairs between tenants, if anything, a day to have the unit professionally cleaned.

But you can't cut corners or costs on electrical or plumbing.

Handymen may be fine for patching a hole in a wall, but if someone is getting on a ladder, working with electricity, or doing roofing, workers comp is a must.  

@Johnson DesirBelow is the % of Cash sales to total volume closedLee County (fort myers, cape coral, estero, bonita springs) : SFM: 40%  Cash buyers  Condos/Townhomes: 65% Cash buyersCollier County (naples, marco island): SFM: 50% Cash buyers  Condos/Townhomes: 70% Cash buyersMostly all of the investors I deal with are all cash.Are you looking to invest in some property near one of our many sunny and clean beaches?

., no oil tank, updated electrical, newer roof and windows); more amenities (parking in this half of Hudson County is worth the square footage in gold!)

I'm due to close soon, and I have a little bit of rehab to make it livable (needs hvac, electrical work and roof repair, at least).After that, I'm looking to buy another personal home in Ferndale, and rent the current purchase out.  

Ex:  An inspector missed that the place has a bad electrical system, I buy the house and now need to fix it.  

Michael Fanoni You need to weigh your risks, if the clean-up guy goes to clean gutter, falls down, and breaks his hips, can't work forever, then obviously you will have to shoulder a big ticket, lawyers will go after you so hard that it will make more sense to foreclose.

It has electrical in it, but it isn't a finished garage/ storage shed.

Then I usually use 50% for expenses on this abbreviated first pass, unless the landlord pays electric and gas in the units.