If you want to get a clearer picture, then you'd want to create a financial model that included all cash inflows / outflows and solves for an IRR.That IRR will be the best indicator of how much you should spend because that gives you a time adjusted calculation of your investment.When you calculate the IRR, you'd have to consider - what's my exit price going to be?

@Swati PatelThere is no such thing as taking partial depreciation.There are some items that you can do to accelerate/slow down depreciation but there is no such thing as partial depreciation.Accelerate depreciation = Bonus depreciation, section 179 expense, cost segregation analysisSlow down = Making an election to opt out of accelerated depreciation.Regarding whether or not you can utilize the rental losses to reduce your taxable income...It depends on what your adjusted gross income is.

Another $500-$1kAll that said, you have to adjust and crunch the numbers, and see if you're comfortable moving forward. 

Thank you for the questions, I will go back and make some adjustments to how I go about looking for deals.

I can adjusts pricing on the fly on that screen.

The tool didn't allow for an adjustment to the interest rate.The 55% is pre-reno so the retax will also get reassesed.

If so here are a few ways to adjust your numbers:1.

Your gain will be about $310k- expenses - $150k adjusted basis -$15k renos= about $145kIf you have passive losses in the your rentals those can be used to offset the gains generated by the sale. 

Because that's often not the case in real life, an adjusted IRR, called Modified IRR (MIRR) is also available in Excel.

But if prices continue to drop I may have to adjust it accordingly, so that could work in my benefit.THoughts?