I am doing my first deal that needs substantial renovations. I'm a pretty handy guy but this would be outside of my realm, but my experience helps me understand how much this type of improvement should cost.Improvemen...

A lot of it depends on when & where you're investing and how good you are at each one of these.

Quote from @Arvand Sabetian: Depends on your unit and size.

Translation: your client cheated the IRS and the states.

IRS definition of a dependent.To claim a child as a dependent, the child must be under 19 or under 24 if a student.

This translates to high rental demand and potential for appreciation.Diverse Opportunities: From bustling metropolises like Miami and Orlando to charming beach towns and vacation destinations, Florida caters to a wide range of investment strategies.

as a "donation" (translating to the benefit of taking a deduction for 2025).

(The difference in rate depends on the deal structure, e.g., the ratio of rehab dollars to purchase price.)Like a HELOC, you only pay interest each month on the loan.

Not sure if that is still legal or even translates in today's world of everything online but seemed like a good screening tool to me at the time. 

Leverage / down payment required will depend on if you're a U.S. citizen, Green card holder or if you have another immigration status.