The squatters institute a dynamic that you cannot accurately budget for, so I would be very, very conservative with any offers. 

If your financial analysis doesn't accurately capture them all, you are headed for DISASTER!

Supply your lender or broker with a track record of your deal experience and scope of work to get the most accurate quotes!

Thank you again.If you can walk it with the contractor, that would be my #1 recommendation.As a distant second, you could gather up all the photos and vids you have and just send those to your contractor to get their high-level estimate.But, you want #1, not just because it's more accurate, but also because you get to ask your contractor questions as they walk the property to better understand what they are looking for!

We get calls all the time from people that claim to be investors wanting to buy one of our properties (including some we sold more than a year ago - shows how accurate some of the pay lists actually are) and when pressed, it is clear they are fishing for deals to wholesale without having buyers lined up. 

I think you've got the process generally right, but recommend being as accurate as possible on the cost and the ARV.  

@Alan Asriants this is accurate and thorough.

A more accurate description for yourself might be you are a landlord looking to buy your first property.

The Airdna estimate for this property was 80K/year, and it is accurate as we own one nearby. 

Compare these rates with active rental listings in the neighborhood to ensure they are accurate.