Make sure you put a pen to estimated rehab then add 10%.

Estimating cost for streets and utilities is just a piece of the puzzle, and likely easier, although more expensive.

As an appraiser, I will take all the info on the house and use it to estimate the quality and condition, in order to compare it to comparables (recent sales) with relatively similar quality and condition.

They loaned 80% of the purchase price and 100% of the rehab, however would only loan up to 70% of the ARV total which they estimated at $560,000.

Now the minimum standards your basement has to hit for it to be able to count as assessed sqft not estimated is a height of 7 ft, a point of egress (bilco doors) and a window usually in the rear, It's one of those things where if your going to go through the process of digging out a basement you might as well go for it and dig it deeper then 7 and closer to 8 ft so you actually stand out compared to the competition.Now the other side of this coin which I would suggest is if you're willing to spend 40-50k on a basement dig, consider adding a 3rd story addition if your a 2 story (think master suite, walk in closet, master bath) or an addition off the back and add a roof deck if your a 3 story (either master suite or just additional bedroom).

One method is to research the fair market value of the property and surrounding properties to compare that value to the estimated cost of repairs, cost of any liens, and cost of any judicial action needed for eviction. 6.

Estimates say the rental potential is 55 to 75k a year.

It is that the estimate included a span of time.

Took a bit longer than hoped but didn't go over my estimate by more than a couple weeks.

For example, if you are told, "we can refinance you for up to 75% LTV" to realistically expect approximately 5% less until you have experience and establish a relationship with your lenders. 2.)