I work in Potomac, MD, and would like to buy a condo or apt that I can easily commute and live in, and then eventually rent out, and then buy another. 

Hi Robert, in terms of the work that could be done easily I suggest activities such as painting, flooring if you have the proper tools, and tiling.

If you want a more accurate price you will need a scope of work easily generated with AI as well and submit to a GC.

However, my main question is how investors determine a reasonable target, especially since some investors with access to higher capital are able to target projects with higher returns than the easily accessible passive or traditional opportunities. 

BiggerPockets has sample contracts for every state.You can also easily find some via Google.

I make a decent amount of money nearly from my W-2 (over 100k) but still not enough to easily buy another property this year especially if I have to put down 20%.

I've created a free interactive map for the upcoming Philadelphia tax sales auction, where you can easily see the location of each property along with its auction ID.

In Indianapolis C to B class neighborhoods I have rarely seen insulation upgraded on rentals especially doubles that have never been owner-occupied.  4th air gaps,  poorly fitting windows, and doors can be easily corrected with proper caulk and weatherstripping (usually).

So, I will set it up that way; he suggested this, because if there are disputes between me and the tenant, then they are more easily resolvable if the entity is in TN.Great news, if there is anything I can help with here in Memphis please reach out anytime. 

With a bit of planning and good operations, one can easily manage 20 to 30 properties without an assistant, with less than a day or two a month.There's lots of automated ways to check on rent, make deposits (my tenants deposit directly into a bank account), receive maintenance requests, have maintenance done, etc., etc.One thing I could argue is to have your tenants ONLY email you, especially for maintenance requests, and that email goes directly to the vendor that you have set up to handle it.