And, the illiquidity of the investment is a feature, not a bug.

New HVAC, plumbing, electrical, floors, kitchen, baths & added a deck. 

Purchase price: $55,000 Cash invested: $110,000 Sale price: $205,000 This was a 1950 raised home that needed extensive foundation repairs as well as all plumbing, electrical and subflooring.

No foreclosure or court action required.3.You might also consider depending on where it is, no electrical or lighted signs if that might be a consideration to you. 

China has cheaper labor, almost no EPA constraints, far cheaper electric power with their new Dam, etc.

For the first part of your question even if you were working with a realtor, I don't personally know many that have a true pulse on rehab costs and I wouldn't make any investment decisions based on their rehab cost projections.My suggestion would be to study how to evaluate the Big 6 rehab costs: roof, siding, windows, HVAC, electrical, and plumbing. 

Updates of heating, adding cooling, and electrical.

Covid related supply chain- We had a project where we needed a 300 amp electrical service. 

Costs have escalated sharply, water up 25%, electric up 30% and natural gas up 33%, and at one property insurance went up 400%.

Don't forget about paying to start electrical, gas, water and internet services.