Just starting out - unless you have a deep pockets W-2 job, substantial savings, or Wife / Significant other with significant income from my experience, it will be tough. 1.

It was not an easy one, since we are in CA and the property is in OH, but we made it through and are looking to take on our next project.Bought: $79,900Initial budget: $65,000Real budget: $97,000 (mismanaged project by initial contractor (and second contractor))ARV: $219,900Improvements:Brand new siding on the second floor (was not in the initial budget)New roof (was not in the initial budget)Sealed and painted the basement - was quite creepy down there beforeOpened the floor plan from the living to the kitchen by widening an existing walkwayMoved the kitchen from one side of the house to the other to capitalize on the stained glass windowsGutted the upstairs bathroom and added really good looking featuresAdded a half bathroom and laundry room downstairs by the entry to the backyardNew ACNew plumbingNew electricOur contractor performed extremely poorly on this job, and I am happy to share a cautious word with anyone who aims to invest in Cincinnati about the team at Kaiker Development and Creative Customs Carpentry.

Enough to cover you for a complete loss and potentially getting sued for numerous reasons.  

As long as I have the money, good credit, and job history getting the loan shouldn't be an issue.

I plan to hire a smaller contractor to handle the job and purchase the materials for them, also probably sub out items they are not good at like landscaping and concrete repair.

Some were really big jobs, some were small. 

It was fast, inexpensive, and did a really good job.

Howdy @Jodie Stone DaleyYou did a good (conservative) job with your Analysis.  

STRs is my main job, and my wifes. 

A few searches and all I find are get a law degree at a good school and get a job.