Two units of a three unit building, fully renovated with parking which are listed under 400k each, 3 bed, 1 bath.

Here's the quick overview of my numbers and projections with more detail in screenshots of my excel spreadsheets:Purchase Price:  $365,000Price Per Unit:  $60,833Two-Family:  $121,667Four-Family: $243,333Rehab Estimates:  $60,000 ($10K/unit) Estimated After Repair Value:  $575,000Loan:  90% LTV (of purchase price) @ 12% interest for 6 months with 2 points paid on exitProjected Cash-On-Cash Return:  29.35%Projected Internal Rate of Return:  51.02%Here's a picture of the current rent roll (two units were vacant) and my projection of the rent rollCurrent Rents:  (more details considering the numbers don't tell the whole story)Two-FamilyUnit 1 (2BR+):  VACANT - son-in-law lived here and moved out prior to closingUnit 2 (2BR):  VACANT - empty when I walked it... he was "finishing" itFour-FamilyUnit 1 (2BR):  $200/week H&HW included - one bedroom is painted entirely black, multiple windows are broken, and other weird things...Unit 2 (1BR):  $780/month H&HW included - only "normal" tenant in the buildingUnit 3 (Studio):  $150/week H&HW&E included - complete hoarder... floor to ceiling with junk except for a small path from his bed to the bathroom and the fridgeUnit 4 (Studio):  $155/week H&HW&E included - smokes in her apartment without a care in the world... had a lit cigarette while I was walking throughProjected Rents:Two-FamilyUnit 1 (2BR+):  $1,400/month (OWNER-OCCUPIED) nothing includedUnit 2 (2BR):  $1,200/month nothing includedFour-FamilyUnit 1 (2BR):  $1,200/month H&HW includedUnit 2 (1BR):  $1,100/month H&HW includedUnit 3 (Studio):  $1,000/mo H&HW&E includedUnit 4 (Studio):  $1,000/mo H&HW&E includedHere's how the numbers broke down for cash in and cash out:Actual and projected expenses for the properties (I was given a single sheet of paper with hand-written numbers). 

Purchase price: $15,000 Cash invested: $50,000 4 bed 2 bath single family home with 2900 sq ft of living space.

And alway compare apples to apples, a 3 bed 2 bath compared to similar.Second is the cost of the repairs.

So a typical 1 bed rental should accommodate 3 people.Read the lease if it has any specifics regarding this matter.

The difference is you don't keep a bed and roof at the gas station where your kids sleep after you buy gas for the first time.

Thank goodness too since the woman drove over the bed in the master bedroom!  

I have a 2 bed/2 bath cabin with a pool table currently in a small game room.

C class plus area2. duplex or higher with 2 beds per unit3. 200k to 345k4. putting 10% down conventional loan 5. $150-200 per unit 6. 8% cocr7. rehab budget 10k to 15k max depending how i analyze deals1. look up the zip code on niche for a letter grade2. see crime map with truila3. compare rents with rental comps and property price4. use 8% capex 8% repairs 7% vacancy 5. holding 5k to 10k as reserves i look daily but not sure if it's me, my numbers or my mindset focusing on the wrong stuff. if anyone can help me with advice on what to do differently or if I should invest in an out of state property with 20% down or use a lower number or what cause 2 years is long enough.

Home 1:Year built: unknownStories: 1Beds: 3Bath: 2Sqft: 1,182Repair estimate: Roof, exterior paint and misc. repairs, interior paint, flooring, landscaping.Home 2:Year built: unknownStories: 1Beds: 1Bath: 1Sqft: 676Repair estimate: Roof (including some rafters), flooring, paint, 3 windows.Comps:Comp 1: 3 bed, 1 bath, 1,340 sqft, built unk, Sold price $30,000 cash, Home needs repairs offered conventional or cashComp 2: 2 bed, 1 bath, 870 sqft, built unk, Sold price $44,000 seller finance, home had tenants.