Hi Kevin,I did not initially because I had just purchased the home a few months ago, so I had no estimates on what the monthly / annual expenses would look like.

Several GC’s have estimated about $100k in work.

Taxes $667/mthInsurance;  estimated at $1000mth, The Current owner owns and does not have insurance.

You should not be trusting Zillow for rental estimates.

So according to your rough estimate how much tax am I looking to pay here because I didn’t buy a replacement property for $755k? 

We call that subdivision prices and we'd go broke if we pay the same.But my contractors don't have to pay a salesman, we always have multiple jobs, we are easy to work with, I am not getting 3 estimates, I am not negotiating with them and I don't call them back to take care of some BS warranty.We have worked with most of our trades for many years and we take care of each other.

Hey Abdul, I was looking to do the same for a couple months but found builders to give very rough estimates for completion, sometimes 2 years out, and my wife was worried they’d take even longer.

@Allen Bannister when buying an older home you have to know what you’re looking at to reasonably estimate repairs.

I have the land available in my backyard and I would like to get a few estimates on pricing. 

I thought I was being conservative when I estimated the apartment would take $25k to get in order.