Operating Expenses (other than management fees): Estimated operating expenses can deviate significantly from one bidder to the next.Cap Ex Costs: Estimated improvement costs can deviate significantly from one bidder to the next.Rent Growth: Estimated rent growth can deviate significantly from one bidder to the next.Cost of Debt: If debt can be assumed and is cheaper than the current market, most bidders will share same input.

I always tell buyers DO NOT BUY if you're not ready, but if you are ready, waiting can cost you. 

Could you provide granularity on costs segregated and potential assets?  

Keep using your 2/5 primary no tax up to $250,000 and your basic rent offset cost for the investment.2.  

when your dealing with a borrower with experience...its not wise to control the Construction, Its not smart to smudge HUD's (i took myself, title and attorney days to figure out my closing cost went from 25k to 40k)...later to find out most of it was in fees and paying 12 months in advance of mortgage payments.

Let’s say you sell for $672 and net say $620k after selling costs?

The closing costs would be 19k with 5k in prepaids, with 14k in closing costs including broker fees.

Step 3 - no surprise, the renovation costs more and takes longer than expected.

Just my opinion but one residential property per LLC is an overkill in my mind and just ends up costing a lot more money down the road in administrative / accounting fees. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!