Quite convenient for you when it suited your desire to not have to spend your own money for the materials or labor.

I find material cost x 3 is a good ballpark for some reason., but I am in Texas.

He is preparing a bid/proposal that I presume will show itemized costs for materials and labor.

Had my license and flipped a few homes a couple years back, but got a promotion at my job that made me step away from real estate for a few years.

You mention 50k in one of your 11 responses to your own post trying to promote your property, and you mention 45k above. 

We are so new to this so excuse the ignorant question, but can we hire a GC to walk through the property and give us an estimate of what they think materials may cost and then use this to rehab ourself?

If you did get a scratch through the urethane topcoat it would make no difference to the performance of the floor nor promote more damage to floor. - doesn’t require a level floor so no bouncy boards or squeaky flooring joints. - so easy to clean as there are no seams for gunk or smells to work into.

Land will be used mostly to store materials/automobiles, but he would like the option of also setting up a new office on the location, so if there is a small building in place, that may be preferred. 

The advice to clean up your finances before doing this is well grounded.Lots of gurus promote real estate investing, especially wholesaling, as a quick and easy path to piles of cash. 

If they are not out on time as agreed begin the process to evict, make sure you inform them it will be on their record.As far as the deposit is concerned you can charge for any material used to repair or bring back th eproperty to a proper appearance based on waht you know they did in regards to damage.