Inspectors that come tell us as long as it has the proper ceiling height, egresses. it's a go.The country had a fixation with single family homes, large lots, and now has a housing crises.

Freshened up the first floor and increased rentUpstairs we did a full remodel:- Bathroom- Kitchen- Flooring- Baseboards- Updated Electrical- Blew out ceilings and moved duct work into the attic- New closet doors- Freshened up the deck- Removed a tree- and much more- Exterior refreshThis renovation cost us close to 40k including the first floor What was the outcome?

. $ 7500Paint all walls and ceilings throughout $2500Keep all natural wood trim and doorsRefinish hard wood floors $2000Install new hot water tank $1800Paint all basement walls and floors $800Scrape all soffit, handrails and floors around all porches. $2500Install all missing gutters throughout $1200 2nd floor Upgrade all painting, $2500 Remove all old Ceramic tile in kitchen $600Install new LVP throughout $4000Rehab Budgets including Install: $30kWhere some of my hesitation lies is the ability to sale at the projected ARV.

I recently replaced the cast iron drain in my 100 year old home.Plumbers left three stories of holes in drywall and ceilings.

Providing blackout blinds for sleeping and ceiling fans to help drown out noise.

Overall I would say 10% is good just because it is such an extreme that it's a good ceiling value to use on a property, and it's nice because on the flip side many properties won't really be needing repairs or small maintenance that often so you could still run that and then have a nice budget put away to deal with those things so it's like you have just given yourself free money in some sense after you have dealt with minor issues by taking from such a large reserve.Ultimately what makes numbers 'good' is very subjective but you should budget and plan for what you're comfortable with, even when you're house hacking your vacancy may not be 4% just because you are renting out half the place, it may well be 8% heck it could be 16% but you should try to plan to get an average that is reflective of the year in a bad year just to be very safe.

:) After doing more research, for those who may stumble across this post, the ceiling does come down to DTI ratios, among other factors.

I am sure scrubbing off walls/ceilings,replacing carpets are trivial things.

The fire was put out and there was no fire damage to my unit, however, there is water damage from the immense amount of water the fire department sprayed in the upstairs unit.From what I can see, my ceiling has extensive damage and is partially sagging in the living room, the wood floors are buckling, and the ceiling in the bedroom and kitchen are all damp. 

The roof looked to have been leaking for some time, and portions of the carport ceiling was open with insulation hanging out.