So my though is to use my home inspector skills to compile a comprehensive report on the property bout about it physically, and its value with all the numbers.

.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.

I have a question that may be a little out there for someone just starting out but nevertheless I am trying to compile information and opinions on.I do not own property...yet. 

We have compiled this list through research and only those vendors with a CAARE member emblem have made a donation to us.They complain about using a REALTORS title company or lawyer, mortgage rep or inspector (Which legally we can make not one single cent from without full disclosure from all sides for any of them).

We have compiled a list of "go / no go" metrics that help us decide whether to move forward with a project or not.

I'm compiling a list for my Investor Training Series of the TOP INVESTOR MISTAKES.

.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.

IMHO compiling free stuff, adds little value, ....just an opinion.... 

I've seen some great advice on this thread, and I would like to compile it all in this post to make sure I'm absorbing it right:1) Verify your rent numbers in multiple locations and with a local realtor.2) Research local Vacancy rates and Crime rates to ensure your Vacancy allowance is high enough. (~7% allowance?)

Compile the Data and see if you notice the same result's over and over.3.