He kept in touch with local contractors, and one tipped him off about a homeowner who ran out of funds mid-renovation.

Labor/material are going to be different and need to factor that in4) new roof, new HVAC, new water heater, ac panel, replacing plumbing to PVCThese are very variable, if you are getting this from a licensed guy to do it and unlicensed.. is it a big shop or a local shop doing it, is the GC doing it they will put some money on the top so it will be more money5) framing (creating new bedrooms or baths)I would get all these quoted from a good couple of licensed guys and unlicensed to know your numbers to cents

Any tips on how to look at the numbers to see if it works?

and I'm still sitting here trying to figure out how I can classify all my income as tips.

Be ware of the ones that get compensated on the back end by trying to refer you to replacement property solutions that compensate them.  

It can affect estimated replacement cost and therefore the amount of coverage recommended/required.  

We're particularly interested in finding off-market properties that could use some TLC to bring them up to their full potential.Does anyone have tips on the best strategies for finding these hidden gems?

Let me know if you’d like more tips—happy to connect!

I'd appreciate hearing about the process, any challenges, or tips for navigating Section 8 in the area.

If separate, do they both need to be replaced?