How to evaluate rehab costs?

[Jonathan Schweinefuss]

Hi BP community! I am a new investor looking to buy my first rental property. I want to buy a property below market value and it seems the best way to do that is find one that needs some work. My biggest concern is that I do not have any contractor or handyman experience, so I have no idea what I'm really looking at in terms of what needs to be done and how much it will cost. Any advice for learning about the rehab process and how to estimate costs? And any general rules of thumb?

Thanks!