Rough Estimate for reno budget.

[Landon S.]

I am still fairly new to the real estate world, and have only done estimates for two projects previously. Before scheduling a showing I wanted to see how close my preliminary estimate should be to work it. Adding 20% to contingency and not adding in any major unexpected repairs that wouldn't be know as of now I used 20K in my ratios for the reno budget.

[http://www.zillow.com/homedetails/646-Laura-Dr-Winchester-KY-40391/115270603_zpid/]
Neighboring homes are selling in the 100-120K range.

I would like to learn any tricks or simple numbers people use to start the preliminary numbers to see if a property is even worth the next step of research.

I know I may not even be able to even get a good enough estimate from Zillow/realtor website without going to the property with my contractor, but I know some people make offers without even seeing the inside of the property. (I will go anyways for the first several times.)

Thanks for any help/advice