Each Scope of Work (SOW) is unique to each property, as the specific needs of each flip vary widely based on the property’s condition, location, and target buyer.

The information contained in this post is not to be relied upon.

I've learned my lesson about relying on turnkey acquisition & management.

Even though I have a great corporate sales job with a W2 income over $200k annually, I've always known I didn’t want to rely on that income forever.

You also have to deal with a bunch of tire-kickers who just waste your time.The rest are only worth advertising on via syndication as not really enough traffic to justify resources to manually add.Of course, this is for our Metro Detroit market, each market may vary somewhat.

Are there specific tools or methods you rely on to get more accurate estimates?

Since you asked about underwriting, you could potentially have other revenue such as add on services so I would t rely on solely platform revenue in this case. 

I’d also recommend checking out markets with strong rental demand and lower entry points.I specialize in DSCR loans for investors, so if you want to explore financing options that don’t rely on traditional income verification, I’d be happy to chat and help you get started.Looking forward to seeing where you land!

I'm trying to plan this out as well as possible to avoid any issues down the road.I've seen the stories where people run into issues meeting this requirement and get scrutiny from the IRS, to me it seems the two biggest red flags might be when they hire a property manager and also when they rarely go out to the property to work on it themselves, always relying on contractors.

Your mileage may vary.