If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents. 

In the markets we deal in, numbers can kill deals that would be home runs elsewhere but a 2x4 costs about the same in both (just the sales price does not support a rehab that would be middle of the road in a place like CA.

It makes sense to run the numbers, but will depend on the appraisal. 

You’ve already got a head start with hands on experience.. and you’re probably way more prepared than you think.That first property can feel both exhilarating and terrifying, so here’s what I’d focus on:Cash Flow & Analysis..

@Roman Stefaniw you may want to consider joining the REIN network run by Don Campbell. 

The vast majority of electric dryers run on 220v.

Please beware if you run into Handy Pro Connection, LLC. 

As mentioned, one could run it sec8, for more $, and the sec8 waiting list has been full for 7+ years now.

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate. 

These costs for most of the individuals are considered personal in nature (unless you have a RE portfolio that is run like a business; see below).