Now I have a much more accurate estimate for repairs, but I learned to estimate hiring someone will cost 3-4 times more than doing it yourself.

If this is accurate, it would put the CAP rate at 22%. 

Of course, this is more accurate with more total tenants.

You can get fairly accurate cost info for larger items like roofing, siding, painting, flooring, kitchens, etc.

Is that ARV accurate??

However, if what you say is accurate on your interest rate's and you have a good LTV then I don't see why you shouldn't try to get a package refinance and save yourself some serious interest and/or pull a little capital out to purchase more.

Depending on your exit strategy and the market area will help determine your repair costs, you will need estimates from a local contractor or handyman to be more accurate. $20/sf seems like a lower market area or minimal work like paint and carpet scenarios, not sure what Aaron is doing or where so don't want to comment on that too much.

Try to break out your expenses as much as possible.4% on an investment property might be a bit optimistic.If you want this to be a pure BRRRR and your ARV/reno numbers are accurate, then the most you should pay for this property is...$10k. so that makes me think there's something else going on here.

This is causing a problem for me because I'm trying to refi, and all the banks keep asking if it's a motel.Does anybody know how I would change the listing to reflect the accurate name of the building in CoStar?

I’m hoping you didn’t just use Zillow to determine the comps and value because Zillow (along with other websites) lack quite a bit of information to give you an accurate value.