Think about all possible expenses and be conservative as well as make sure you have the personal income/liquidity to support the property if it is vacant for an extended period. 

Speaking with a few realtors and private lenders, I am hearing that ARV appraisals are returning with conservative (low) values.

Speaking with a few realtors and private lenders, I am hearing that ARV appraisals are returning with conservative (low) values.

Two, the loan to value must be conservative - ie below 65%.  

Also, in cold climates, if you turn the water off for a second to try and conserve, you will get a blast of cold water for the period of time that it takes the heater to turn back on.

Condition: Roof, windows, furnace, ac, water heater brand new within 5 years.Rehab: 10-15k cosmeticsCombined Rent: 1600 (800/unit) this is conservative. 850 realistic w/ good finish quality.ARV: 80k (conservative)I don't think there's much wrong with the deal from a cash flow perspective.

-If we had a well drawn-up business plan, with conservative projections, and a few months worth of rent in a business bank account, would this be enough? 

Rents after renovation are conservatively $550/month on average, $625 on the high end.

I would think that you're best to conserve your cash, as there will always be cash needs.

Probably should have posted this before yesterday, but better late than never.Here is the link to the Rental Property Calculator report on the propertyNumbers on First Investment PropertyThe ARV is a conservative estimate from our Realtor, states it will probably appraise for a little more for the bank appraisal.I will be self managing the property, so the $75.60/mo for management will be added to the monthly cashflow.