We use actual bids from contractors and our own estimates of interior rehab.We did call and visit some of the apartments in our rent comps to see what are our competitors were doing in terms of unit quality and rents offering.  

., I think you nailed it: the TENANT BASE in Boston has low expectations, so even low quality buildings fetch great returns.

Thanks for the tip @Bill Hampton. 

Definitely quality answers from reputable people, but the one thing that wasn’t mentioned and I think is crucial with regard to aspect of time, is sourcing assets.

Any help, tips, or even just comments are highly appreciated!

Tim good to know you are into Management of Air BNB vrbo etc!

The numbers add up, however, I would appreciate your tips on things I should look into during my due diligence period. 

Let me know if you need some tips on finding great tenants.

In fact  such homes are often of superior quality because they are built in climate controlled indoor plants rather than lots of inclement weather. 

The quality of his tenants also keeps him on his toes.