Few days after closing, visited property with contractor to get estimate to address some of the items that came up on inspection report. 

I've located Zillow estimates and other resources but none that provide actual average sale price for this breakdown outside of the MLS. 

Used a hard money loan for the purchase price + estimated renovation funds that I got from our GC during our inspection period.

Quote from @Michael Smythe: @Chris Berezansky you'll be hard pressed to find a lender/bank/credit union willing to HELOC lend more than 65% of the total loan amount on a rental.If value = $375k x 65% = $243,750 MAX TOTAL LOANS.You state you have $160k equity, so if we base that off the $375k estimated value => $215k current loan balance.$243,750 - $215k => $28,750 MAX HELOC amountA total refinance would typically allow you to access 70-75% of the property value.

They have monthly meetups where local investors walk through their own projects, share numbers, and talk about what worked and what didn’t.They also do property tours and have mentorship opportunities, so you can actually see how people evaluate deals and estimate repair costs in real time.

Also, did the contractor estimate the SF of the triplex? 

In my analysis, I estimated the annual insurance premium as if they were combined, then I learned that the 1 bed 1 bath must be insured separately.

Here’s an estimate of “startup” costs1.

So even if the place is brand new, your real “wear and tear” is more like a 10-year-old house after just a few leasing cycles.Bottom line: your $3k/year maintenance estimate is fair, but I’d keep reserves higher just because student housing tends to be harder on the property.

I'm just north of the lake, thinking of doing the same, have about the same equity, and my estimates ($3500/mo) seem to cashflow a couple hundred a month.