Accounting for asbestos/lead abatement costs

[Dave Vona]

I wanted to understand what other house flippers are doing to account for the cost of asbestos and lead abatement when purchasing a property.  The costs can be significant if there is asbestos and lead throughout the home.  I know testing can be done, but in Denver many of the wholesalers require a $5K - $10K non-refundable deposit.  And, if I was to assume an extra $20K-$30K of additional costs for any flip that requires significant demo work, then that would really kill most deals.  Do I need to become more familiar with what to look for in a home and then estimate the amount of the abatement costs more accurately instead of using a worst-case number?  Thank you.

[Greg Dickerson]

@Dave Vona the best thing to do is get an inspection/remediation company to give you an estimate so you know exactly what it will cost. Really no other way to guesstimate.