Out of state investing, contractor process?

[Austin Hickman]

Hello everyone, 

I am looking to start investing out of state (probably central FL), as I currently live in the DC area, where a parking space costs nearly $50,000. The surrounding areas are not much better. 

Anyhow, I am currently reading "Long Distance Real Estate Investing" by David Greene, and I had some questions forming. At what stage do you get a quote from a contractor? How can you calculate if the deal will even work without knowing that? Calculating the difference between cost to purchase/rehab, and ARV would be very difficult.

I have had a few other questions that I can't recall, but I'm sure I will as time goes on. I would also love any and all advice, and knowledge that you more experienced investors have. I have yet to complete a deal because I lost all my savings thanks to COVID, so now I need to save up a 20% down payment (if anyone knows of another way to work around that I am also all ears!). 

Thank you all, and I look forward to reading your responses.