+I've call some GC that do new construction homes to get an idea of the build cost.

Curious to hear any creative approaches that have worked in today's market.ARV and future value are speculative so when I am looking at property I am looking at it for longer term - does it fit within my strategy based on conservative estimates.

No "estimating" at the end of the week/month/year. 3.

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

As long as you run your numbers and your estimates are conservative, you'll do okay in the long run.

My 70 % rule...ARVx70% - rehab cost = purchase price.  2nd question....

Again I cannot collect rent to justify this cost/effort.  

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Yes we avoid custom work to help keep cost down. 

It will cost less than $150,000 and will need moderate renovation work.