I'd estimate the current value of the property around $1M. 

If you can get a loan at the 6.5%, you're saving another 5k a year off your estimates. 

It’s always a good idea to consult a local real estate attorney and title company for more accurate estimates in your area.

We typically estimate standard costs for these items but get them done much cheaper with our own crew.

Just go through them, select the renovated/closely matching ones, and enter them into a model.Here's my fix & flip model, you can see the comps entered and some quick stats below them: Then I use that comp data to adjust the Sale Price in the model to what I estimate it will be (double check the resale $/sf is in-line with the comps), then adjust the purchase price until I hit my desired return level. 

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

Yes I think estimating 5% would be a good start and then once you know the school district you can get a better idea of what to expect.

There are also many calculators out there that over estimate the cost assumptions or rent comps.

It’s a good move to have a contractor walk through before making an offer to estimate costs and timeline. 

I have a little hard time estimating a fair market value given these conditions as I don't know how much to discount the value of the house with these issues presented.