@Matt EverlingThere is no guarantee on an appraisal, but there are key components in every project that will improve the value of a property.  

Sure, there are learning experiences, but those bridges ought to be crossed when you get to them.Since you're new with no experience, you should also spend some time learning the fundamentals of real estate valuation, assessing property so as to know the component parts of a property and perhaps some basics in rehabilitating homes.

Think about foundation, HVAC, electrical, plumbing, water heater, and all the other components that make up a house system, each of which has its own useful lifespan. 

Both of those type investments likely require a larger (work for yield) component.

Rent must be 1-1.25% of the mortgage, an appraisal can also come up with whats the fair rental market on similar properties in the area, is the same as doing a comp on the ARV but on rents. 

Earlier this year my wife's uncle unexpectedly passed away.

Well that took an unexpected turn 

Hi all, Trying to get an understanding of the step by step process for the rehab component of the flip.

One of the main points it attempts to drive home with appraisers, is that each appraisal assignment is unique, and each assignment must be tailored to serve the valuation problem at hand and as a component of the valuation problem, the expectation of the user/client.

If you're a high earner making several hundred thousand a year and can easily cover unexpected vacancy/expenses, vs someone who is highly leveraged with little margin for mishaps, the answer would be very different.