This construction guy might have put lipstick on it.The repairs mentioned are the easy ones.Is knob and tube lurking behind the walls,galvanized pipes,cast iron sewer,mold,asbestos,lead paint,etc.??

We haven't ironed out all the details yet, but the arrangement may look something like this: - Friend pays off remaining mortgage balance of $62k - Friend deeds me the property for free - Friend funds the rehab - he expects $15k - $3k for each bathroom remodel and 7k for kitchen and 2k for misc- ARV = 130k - potentially more.

Ironically, the Coronavirus pandemic is the first recession on record where personal income has actually risen, thanks to government stimulus checks and boosted unemployment insurance payments that are now, unfortunately, long lost memories.

The shallow sand wells in my area contain a lot of iron creating rust stains on the outside from the sprinkler system.

.;- plumbing: ABS vs cast iron or galvanized waste lines; galvanised vs copper or pex supply lines- HVAC: type of heating/cooling system(s); centralized vs separate; age of systems; etc.- finishes and flooring: cabinets, vanities, fixtures, floors, etc.

Ironically we make less for surplus lines policies (like GL only) because they are typically written through MGA's unless the agent has a direct appointment with USLI. 

Am looking at corecon.com which expresses on their website that it is a robust PM/CM software that will eventually iron out some of my constantly changing standards (trying to improve but sometimes I forget my own rules/standards).

@Ryland Taniguchito further this thought think of it this way as a HML and as a rehabber.You have a lender that will require 10% equity total and 70% ARV.. ( you don't want to buy anything as the flipper with a higher ARV anyway usually)and for those terms your lender is a little more like a Veristone or East side or Iron bridge take your pick ( or like me in my day)So say your 10% down lender is  3 and 12And say your lender like Lending home ( were like you I can qualify based on my volume for their absolute lowest rate which is 2 and 7. something.) but they want 30% cash into the deal for that rate.Now say you want to do this for a living.. and say like most projects for us west coast folks its 6 to 9 months to cycle start to finish ( IE the properties are so competitive you need to close but it can take a few months to many months just to get your plans and permits not at all like flipping little dinger in other areas of the country)So you do your average deal we do here at 500k  your local guy is at 10% equity that's 50k..your cheaper lender is at 150k equity. your cost of capital is 9k  2 points  and say 12% for 9 months is 40k so total cost of capital is 50k. your property sells for 30% more or 650k... minus commish ( if your smart like me you have your own RE license so you don't pay list side in high price markets  LOL). so 20k for commish.. another 20k in taxs and various other things.. so 50k + 20k + 20K = 90 k   or 590k all in so you net 60ksame scenario with 150k down 350k X 2 points is 7k   lets use your number of 9% for 9 months. 23kso total of 30k and a savings of 20k for that 9 month project... so net 80kNow lets assume you can do 3 at a time in the same nine month period because your great HML ( like me in my day) would give you the leverage.... use the same numbers... 3 X 60 k is 180k over the same time period with the same amount of cash...

I renovate to create a bullet proof, durable dwelling and always include a few basic frills (tiled tub surround...refinished hardwood floors...mini blinds on the first floor)I always remove obsolete items like gravity furnaces (love used 80% efficient units and used gas water heaters...I'd drive a hundred miles to pickup a truckload at the right price) and definitely remove cast iron tubs with those silly ring shower curtains for new tubs with a shower head. 

He worked on drains and with the video camera he saw that the cast iron pipes had collapsed just outside the house.