Estimating is both art & science and FWIW most professional estimators rarely get it spot on, usually operating within a Delta.There's tons of estimating books, software etc.

Readers should seek professional advice.

It’s not the most simple task unfortunately - definitely requires some technical skill.

If you’re interested in investing here, I’d encourage you to speak with a knowledgeable local real estate professional or lender to get accurate guidance.

You will also discover the warranties don't cover as much as you think, and claims are often denied.Home warranties are so bad that most professional property managers will not manage a property with one in place.

Definitely get with a qualified tax professional on this.

I'm not a professional Tax person.

Look for some of those to go in as an LP (limited partner) and learn and grow your knowledge, skills and investment money so you'll be ready for the next accredited deal. 

I’m glad to be here and have many different professionals like you all reach out and help new beginners like myself!   

I learned a lot about the real estate side of the project and we now have the skills to help others work through this process.What made you interested in investing in this type of deal?