Originally posted by @Tommy Foltz:Multiply 8 to 12 dollars per square foot and that will give you a good rough estimate.Very likely an utterly and completely wrong estimate, but yes, definitely an estimate...  :-)Most likely, you're focused on either/both ultra-low-end properties and/or properties that need very little work -- these aren't typical in this business.  

If you utter the word "Credit" to a consumer, I'd take a couple minutes to stay compliant.It's pretty simple to stay compliant.

I've been waiting for some fellow loan originator that I deem credible, either on the phone, in one of our private facebook groups, or somewhere else, to utter words to the effect of: "It was a smooth process, no hiccups, closed on a reasonable 30 day timeline, guidelines were transparent, and overall the investor/buyer/refinancer was happy with the process, minimal 'surprises,' just work with ABC Home Loans for that."

In addition, were the utilities utterly separate from one another? 

Night of 1st I get there & they'd thrown everything left behind in front of driveway, filled trash, recycling & yard waste bins with said shoes, clothes, furniture & dishes & the house was UTTERLY filthy - they had obviously NEVER cleaned.

They have a tendency to stand out like a sore thumb which means they will be challenged and tax, interest and penalties can be huge if they are not determined to be lawful.I've seen many cases where folks have sold a business and as a result have a huge one time gain and thus shopped the National law and accounting firms for tax strategies to find an offset only to be utterly destroyed on audit.You might research the BOSS, SON of BOSS tax, etc., tax avoidance transactions where people with gains in the hundreds of millions range fabricated offsetting loses and got absolutely crushed (and this was with supporting tax opinions in hand and top flight tax people defending them at great expense).

Keep in mind that they are utterly ignorant of economic principals and have rose-colored glasses when it comes to tenant behavior.

If your retirement utterly depends on having adequate cash flow from your properties, any downturns will cripple you.

But, the carpet never vacuumed, cared for in the least, ripped and stained in several places, left utterly useless, and I had to tear it all out. 

In reality, many most never pulled the trigger, so were an utter waste of time and gas.