How much should I rehab?

[Jacob Mistric]

I have a general idea of how to calculate the ARV and how to estimate repairs. The problem I'm running into is how to calculate the value of renovations. Say I have the ARV, how do I know how much I should invest in repairs to get me to that ARV I have in mind? The danger I'm anticipating is that I overspend on repairs and the ARV ends up being way over what buyers will spend in that neighborhood, or that I under repair and end up with little to no ROI?