The reno budget is pretty self explanatory, I would just make sure you have a buffer.

With that, the retirement founds no longer receiving yields on their investments at sustainable levels of 7%-8% and have no money to pay the baby boomers.With-saying that, if you planing to flip houses in todays market I would aim to go in and out in 3 months Max. if you buy and hold buy cashflow to wether the storm and you should be OK.Remember, you make your money when you buy so make sure you get a good deal with equity buffer in it. the discount you get today may be market value or less in downturn so cashflow would be the only thing to hold you above water. 

If you are consistent then that also helps to create expectations and provide a buffer.

Put a day or two buffer period between guests.We only had an issue once, when someone cooked Indian (I think) food before they left...really strong curry and etc smell.

Property managers are great as a third party buffer or middle man, this is a business to us, it's not personal.

If you're not including a buffer for vacancy and maintenance costs, not to mention taxes and insurance, then your $500 profit is likely way off the mark.

Add 25 percent buffer.

I want an additional buffer of income by the time 2025 rolls around, or earlier, to secure this financial independence.  

I put 2k as a buffer.   

I listed the property for rent and had a viewing and subsequent application to rent the next day at full asking price, providing a 30% buffer over PITI obligations to account for all expenses.