Fast repair calcs for home offers

[Amy G.]

Hey BP,

(Sidenote, as a new investor, I am stunned at the depth and so grateful for these forums!) I recognize that due diligence, appraisers, contractors and sheer experience are serious elements to calculating repair costs on properties we are considering to buy or assign. I also know there are "cost calculators" in BP files. I am however querying opinions about that small window of time when your seller has either described their home to you on the phone, or you've even taken a walk through and you want to work the numbers. I would appreciate some steps investors take to get to your first approximation of repair cost. Do some use a certain percentage? Do some use a standard dollar amount like 10K? If you can't yet tick off these costs in your head, are some spreadsheets better than others? I hope this query is of use to many. Thanks in advance.