Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.  

While under contract, we perform due diligence and there will be some soft costs incurred. 

Feel free to connect for more insight on asset class and choosing the right type of investment suitable for your targeted performance.

I have a buddy who does this for a living on raw land, and he pays for the software and gives us all the data for free.  

Feel free to comment below or shoot me a message or colleague request. 

Feel free to reach out!

We agreed, and then they informed us after the fact that the cost end up being $2,000.00 because it was "so dirty." 

Feel free to download it here and reach out to me with any feedback: https://apps.apple.com/us/app/biggerpockets/id6736392302

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

Simply put, we start off with the As Repaired/Completed Value (ARV), then subtract from that number a reasonable profit, the rehab cost (scope of work), which we've gotten good at, a contingency reserve for any "unexpecteds", our cost of capital/carrying costs (interest and costs of the leverage used), and our costs/fees on the buy and sell sides of a flip.