He needs to cash out quickly but is willing to lower the price to 500K if he can still manage them ( manages about 30 units in that area).

As you can see, all those cost savings that people keep telling you about quickly evaporate.

If you plan to live in it for an extended period of time, and you can comfortably afford the monthly payments and all associated bills then it shouldn't be an issue.

I haven't got the PM involved with the underwriting as I try to do a quick analysis to see if it works before I dive into the details.

I did a couple long term live-in "flips", but nothing at a quick pace (hence first "serious" deal).

Pull the listing and you can relist after a certain period of time.

I'm starting to analyze one deal per day for practice.Is there a quick way to calculate rehab cost and ARV (without overthinking it) before making a thorough analysis of property?

The opportunity for investors to purchase a desirable property quickly is a major reason to seek private lending.

You will quickly learn who knows what they are doing and who is a simply a document marketing firm. 

As long as your income is less than 150k -you can also itemize the depreciation of the flooring, appliances etc. for those unIts yoI do not occupy over a shorter period of time than 27.5 years -you can write off the cost of improvements to the units in which you do not occupy NOT Occupied Rental Property--you can write off the interest and property tax to lower your overall income to a lower tax bracket.