How to determine rehab cost ( prior to seeing it in person )

[Julio Velazquez]

Hello BP,

So I have a few questions, I’m trying to analyze deals just to get a better understanding of how to do it so I can feel more confident when I’m going into my first deal..

Now I understand that when you’re flipping the

Equation is ARV-rehab-fees correct?

If I'm looking at a MLS or on foreclosure.com

How can I determine more or less the rehab

Cost just by pictures? Is there a formula for that? Yes I do understand that it’s not going to be accurate and this would all be a guess. Am I wasting my time by doing this? Is the only way to actually go see the property with a contractor to get a general idea and then do the math?

Thank everyone in advance.