Roughly, I estimate I can sell the California condo for around $600, then 1031 that into condos/townhomes priced at about $250k.

Each time the response was “Unfortunately I cannot provide an exact estimate at this time for the date of completion”.

Banks must approve a short sale for a short sale to take place, and banks hire appraisers and other real estate agents to perform broker price opinions (BPOs), or estimated values of the home.The goal would be to negotiate with the seller before the home becomes a short sale. 

Clearly there's a lot more ROI and work for a BRRRR.After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. 

Knowledge and use of this information should help you to make a more realistic cost estimates for your models. 

Princeton University’s Eviction Lab estimates 1.5 million Americans face eviction annually.

Hopefully, based on actual field measurements, past project data, and estimating software, your contractor can develop a detailed estimate that lays out the cost of labor and all materials for each phase of the project.

Now this property is in a class C neighborhood with a calculated 11% cap rate estimated.

I’ve used PriceLabs Revenue Estimator in the past with great success.

These methods include:Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachFor further details on the methodologies, refer here.WHAT ARE THE BEST AND WORST PROPERTIES FOR COST SEGREGATION STUDIES?