If the interior needs a complete remodel the budget will be BIG.

Investors especially new investors drop the ball because they don’t have an adequate budget to continue marketing and they only look for the low hanging fruit.Thanks for input

Obviously these are the basic questions to start out with, and you have to do more diligence on the property itself along with an inspection report, but I suggest jumping in once you do find a property you can work with in your budget. 

What you may need to be aware, in terms of budgeting, is that typically 401k will only allow you borrow up to 50% of your vested balance, so in your case of 10k balance, you may only be allowed to take out 5k, with some minimal fees and all that, you should consider if that is still a viable option for your situation.

Additionally, I use my background (budget and FP&A work experience) to help set the community for future success by ensuring there's enough going into the cap reserves.  

Not to mention you can’t expect a formula to generate an accurate rehab budget site unseen.

You may want to have a great insurance policy and budget wisely for repairs and maintenance.

If that is the case and you are budget conscious, don't worry about the rate of return. 

The reason I say this, if I just added $10,000 to my budget, I would never get a house.

Unfortunately the cost to remove the 6 dead trees ate into my landscaping budget a lot more than anticipated.