I'll bet you can get it done for less. 

No taxes in Alaska.3000 - 1146 - 100/mo for insurance (just a guess) = 1754.Split that in half for 50% rule, in regards to capital expenditures: 1754 / 2 = 8776000 / 877 = 6.7 = 7 UnitsSo you will need 7 homes of about that size (doable, but takes time).

This brings the total price of this townhouse to about $200K, so if you think I was nervous about the $181 price tag, you can bet that I'm groaning to myself at the $200K price tag.So why am I still wanting to move forward?

Hello, add a Access control lock on the door, never will you have buy expensive locks or hire a lock smith, all you have to is issue a new key Fob, if your tenant looses or move, you just disable the key FOB assigned to that tenant,. and depending on unit size, and system that you install you can monitor entry and exit, of anyone with access.

Given the current costs, we would never buy one for a rental; I inherited one with one rental I manage.The EPA mandated changes April of this year which increased the size of all tank type water heaters.

The fact that your project already has the size and just needs rehab is excellent.

Postlets.com and CL are your best bet! 

@Josh Caldwell - without looking at the data, I bet that rents in Ames, Iowa were really low and that 22% increase is something like median rents going from $400 => $500.

I can pick three similarly sized houses in my city in a 1-mile radius and the prices can vary from $2250 to $500 to $900. 

Takes 3 trips regardless of size of room.