We assist a lot of our metro Detroit investor clients with this via what we call a BRRR Turnkey - we help them find the property, evaluate Scope Of Work for Rehab budget, do the rehab, place a tenant and then they cashout refinance to repeat the process.No matter what market you choose to do business in, recommend you stay away from any agent or PMC that's not experienced enough to warn you about these challenges - they are NOT "investor-friendly", just desperately "commission-friendly"!!!

Going the DSCR loan route makes a lot of sense if you're not using W-2 income, and it opens the door to out-of-state turnkey or light value-add properties that cash flow from day one.If I were in your shoes, I’d be looking at landlord-friendly, low-barrier markets like Memphis, TN, where you can still pick up solid rental properties in the $100K–$150K range with strong rent-to-price ratios.

Then, three months later, they opened a claim with Airbnb.Without warning, $2,300 was clawed back from my account.

Purchase price: $129,900 Investor Renovation Summary – 1748 Benning StreetExterior Improvements➤ New architectural shingle roof; porch painted gray➤ Painted posts/rails, new light fixtures & mailbox➤ Landscaping: mulch beds, timbers replaced, brick cleaned/repaired➤ Security bars/gates removed; exterior doors replaced with smart locksInterior Renovation➤ Full interior paint (gray walls), trim repair, paneling replaced➤ All blinds, window locks, and interior doors updated➤ New LED lighting, smoke & CO detectors, doorbell, HVAC ventsKitchen & Bath Updates➤ Cabinets painted/repaired; new counters, sink, vent hood➤ New stackable washer hookup & 220 outlet➤ Full bathroom remodel: tub, tile, vanity, toilet, exhaust fanMechanical & Final Touches➤ New HVAC system; attic ladder & drywall repairs➤ Water heater evaluated; deep clean completedStatus: Fully updated, turnkey-ready, ideal for rental or resale

Christopher,Take heed from the advice and warnings here.

We still end up doing a few things like upgrading appliances or installing recessed LED lighting and dimmer switches and other life-style upgrades to attract top-notch tenants. 

This will help you get a better idea of what tile, hardwood, carpet, plumbing fixtures and light fixtures costs for your rehabs.#4 Contact Local Contractors For PricingLabor pricing is a little harder to accurately predict, because contractors will all charge different prices and pricing can vary substantially from contractor-to-contractor.To familiarize yourself with labor pricing, you could pay a GC $200 to $300 to walk through a few properties and provide budget pricing for typical repairs.#5 Build Out Your Database in a Spreadsheet Once you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.#6 Practice, Practice, PracticeWalk through distressed fixer-upper properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.This will help you get acquainted with common rehab repairs, rehab costs & estimating terminology.#7 Get Your First Rehab Project!

And this allows them to stop chasing deals when the deals don't make sense, because they don't need the acquisition fee of a new deal just to keep the lights on.

Since the noise is an issue, and the heat warning is serious so consider these ideas: First, offer to give them another portable unit (rent or buy one) to spread the cooling and reduce noise in one area. 

I surely want them out at the speed of light.