Video on initial rehab estimates

[David Ripplinger]

I'm new to the real estate scene, and I saw this interesting video on getting a very quick initial estimate on rehab costs as you're considering a bunch of deals.

https://youtu.be/EtCDWoJVtOE

Is what they're saying fairly accurate for an initial estimate, as in, using this to filter out most of the bad deals, and then do a more careful estimate on the promising deals? Would the initial estimates change much for a rental rehab instead of a flip?