I define "estimate" as examining a project for the purpose of submitting a proposal for a clearly defined scope of work. 

Once you have all the info on the home and have seen it take a day to examine it and get back with them as to your decision. explain that you are in the business to make a profit so if you pay too much, you will not make any money.

As to charging a higher rate absolutely just be aware of usury laws in your state regarding interest rates..That is one of the many reasons I use a land trust to avoid the DOS and lease out on a triple net lease NNN basis to a tenant.You can also sell the note as long as it is structured correctly so keep that in mind when you setup the note/contract..I am going to a advanced note training this weekend so hopefully will learn how to best do that.Mr Finance examiner is correct in his analysis in that more information is needed to give better answers to your inquiries.Good luck.

Hello all,I've just passed my Real Estate Salesperson exam in the state if Georgia. 

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

Unless you suspect that your tenants are capable of the disciplined financial commitment of controlling their spending and saving up their income to put a down payment on a house, the tedious paperwork and financial self-examination necessary to get a loan, and the confidence to sign on the dotted line and assume the uncertain responsibility of owning a home.The sad fact is, however, that most C-class tenants of my acquaintance struggle with these things unreasonably.

I'm very new just like yourself, and looking to build experience.I'm actually preparing for my license at the moment, and hope to take my exam in March or so.  

Examine other units and see if they are comparable in price and condition.

But if after you’ve got that down you keep thinking that you need something else before real estate knowledge I would examine your goals.

The Department is examining ways it can improve          reporting processes to accommodate this problematic scenario.