Estimating repair and upgrade costs during building inspection

[Wai-Ming Lau]

While shopping for a small multi-family building (3 or 4 units), I would like to get an inspection of the building to get an estimate of repair costs if any problems are found (foundation, roof, electrical, plumbing, heating).  I am not an inspector myself and am terrible and guessing how much things cost to fix or repair.   I am assuming free estimates only apply to properties you already own.   I am also expecting that they will not bid on the property themselves if hired. How much would an inspection plus estimation generally cost for a 4-unit building?    Any company recommendations? 

[Kristine Ann]

Inspectors never give repair costs, in my experience.  

In the past with one house, I paid a contractor who I had a good relationship with $100 for his time to come with me during a showing to give me some rough estimates.  The realtor panicked a little but I said he was a handy friend of mine.  If you don't own the house yet, you really need to pay the guy otherwise it's a waste of his time.

Sometimes roofers and pools companies will give an estimate based on google maps.  You can call other companies like a plumbing company or hvac company and ask for a very rough estimate once you know what needs to be done.  They generally have lists they can refer to.

It's never 100% accurate because repairs on a newly bought building can quickly cascade into larger projects depending on what they find when they are on site.