Now you know, you need to send out 5,000 postcards to get those five deals..You will know the cost of acquiring a customer/property after all this..

In any case, successful wholesaling REQUIRES the knowledge, experience, and ability to accurately estimate repair and rehab costs and time.  

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

The carrying costs are low, but tenant was making partial payments by month 2.

-you can't do a BRRRR without a major rehab. 

Hi. I inherited a partnership in a 22 unit commercial building with 8 restaurants, a grocery store, a couple of personal care services, and various other businesses. Rent is around $130k  per month. I was surpriesed t...

However, I still struggle to understand the art of estimating rehab costs. 

I have found that they worked really well when it comes to getting better tenants and better rents, and having less hassle, less headaches, and then getting a higher sales price; without paying closing costs or realtor fees.