It's a different ballgame now with returns depressed, but the reality of the business hasn't changed and there's not really any way to skip over that part without damaging your future returns by more than you're saving up front.

I agree with @Alexis Sostre - tree through house = increased risk & that return is not commercerate to the risk taken on... your contractor estimating is giving his best guess but there's no telling what he could find. 

For a first house hack, focus on cash flow, CoC return, and local rental demand.

Located in a strong recovery community with access to jobs, services, and peer support, the home not only generates stable returns but also delivers a lasting impact in the neighborhood.

I own 1 and manage 17 other STRs in the Disney market.Assuming a normal LTV, if you're buying turn-key, profitability is most likely not on the table after debt service.If you invest in theming it can be profitable if you do it well.If returns are your primary goal, there are better markets than Davenport/Kissimmee. 

I built a software system that automatically scans active listings in the Columbia, SC area every week, analyzes them, ranks them by cash flow/cash-on-cash return/DSCR, and emails me the results.

Quote from @V.G Jason: All your bets were on consistent and linear returns it seems right?  

The borrower showed us a tax return for 2023 that showed he had paid $2,050,000 for the subject property as this was the acquisition cost listed in the modified balance sheet as part of the corporate tax return.  

@Anita Kollory as far as returns, it all depends on what type of loan you'd be getting, your comfort level of buying locations, how much you're approved of, and several other factors.

My returns on single family homes is 30%+ using BRRR method.