Getting a referral from a fellow investor is OK, however that contractor may be good for the referee, but could be not so good for someone else.Contractors are special individuals - they too are chasing the buck and trying to get the best deal possible.You may want to write specifications  of what you want done - once you know what you want you can better compare bids from workman.I have found that meeting real people with real tools at a time they are buying supplies and materials at Home Depot 5:30 - 6 am picking up stuff to do their daily work is sometimes an effective way to find the craftsman you are looking for at a price that will serve you well.Getting referrals is OK - but how do you know that they didn't over-charge the person who is referring you to them?

UPDATE:  After a long week of waiting I finally got news that only the front bedroom took on water and they have a bid for $4500.00 to restore it.  

Bidding wars are routine and it seems like the good deals come and go within days.I'm looking for a couple of things:1.  

@Anthony Dominguez I have never met a contractor or subcontractor that has ever given an owner that type of list.How it works is you receive a bid for labor and materials, and that is what he charges you.

I'm bidding for the first time on a home at xome.com.

Deals can be found in "No Interior Inspection" properties if I catch the occupant early on (like day-of-listing), but otherwise, our REO properties are bid up too high for the risk taken and condition. 

Tuesday I have contractors coming to give bids on the rehab, to give me a more accurate rehab cost before I make my offer.

The trustee will usually be instructed to bid in on behalf of the lien holder the total of amount of the principal, interest owed, late fees and legal fees, as well as any other legitimate fees incurred by the lender.

There you get into financing challenges, sometimes getting it "as is, where is", sometimes not being able to get into the home before bidding, etc.  

The house should still sell for what they owe me if not I would bid the high bid, get the property back, fix the roof and do it againas I said we have found with owner finance I can sell the property for 20 to 25% more than current market value so when the balloon hits in five years and they pay it off I have enough money to do it again with a similar property.