@Ryan Steele thank you so much for the information as I did get a chance to read over everything from the website and I will be at the meeting this Thursday with a couple other individuals that are interested in real estate as well.

I like to be very consrvative in my estimates .

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook Consider checking out HUD homes for small multi's owner occupied gets first crack.

The chances of you removing the mortgage insurance, either as MIP or PMI are slim to none this early in your loan.

ARV is one of the most critical aspects of the puzzle to estimate correctly for your investments, with so much on the line why would you chance it?

Keeping in mind the holding costs on the house might be more then the apartment.I would have her give a new deposit for only the difference in rent and some amount over that (estimated charges for any damages), get that by doing a pre-move out walk through.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

These formulas are just rough estimates of what the numbers might be.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.Good LuckPaul