I include another month of holding costs in my projections to accommodate extra time needed to close on the pre-sale.  

Usually an architect or good contractor knows as well.

I mean come on,  most of the people traveling around this area are very into "small" kind of a "hipppie" lifestyle and don't usually travel in large groups.

My father was into buying and selling real estate (usually not houses) for about 45 years and he has taught me a little bit.  

I usually ask 3-6% or more.

I was trying to be conservative because I'm nervous about not being able to find a tenant and having to cover extra costs because I assumed incorrectly that I could get more for the rent.I was planning on occupying the upper, yes and it is already vacant.

How much will that roughly cost to  have lead-free certified and how long will that usually take?  

Andrew You have to factor things like:- vacancy- property management- repairs and maintenance- replacement reservesin addition to the usual PITIA (Principal, interest, taxes, insurance and assessment).

@Ethan Giller & @Paulette Midgette your opinions are usually very balanced and informed.

An LOC on the rental will be nearly impossible.you have no history as a flipperno history as an owner/operatorand things like the LOC / REFI cash out usually require seasoning.It takes money to make money and your first venture will not be at the best of terms :sigh: