I normally expect to pay two dollars a square foot materials and labor for laminate floor installed.The flooring I get is about $.70, the guy charge me a buck and I assume there is some waste.Just had a few small studios done that are a little under 500 ft.², maybe closer to 4 ft.² when you subtract the bathroom.

Just enter in the following formula and it will tell you what the remaining loan balance is at any point in time, with which you can subtract it from the original balance to see what you have paid off. 

Subtract his purchase price of $20k, subtract improvements ($2500/yr x 40 years = $100k), now your around $316k and he gets a $250k deduction. 

After subtracting all of that, getting a property at 50-55% of ARV is a good target.

@Walker Hinshawhe wont be living it is. i am going to give him a down payment. it is giving him more money that i can offer... as i am typing this is came to me that, if they are going to pay for property taxes anyway, why not just subtract it as i normally would. 

I subtract the 13K annual allowable gift without having to be taxed and get 14K.

Subtract the cost to develop from the end value.

Then make sure to subtract realtor fees, closing costs for you and the buyer and any concessions from the sale price.If you could rehab for $30k that'd be a sweet deal, otherwise I would walk.

This gives your effective gross revenue.Next are all your operating expenses (utilities, taxes, garbage, snow removal, maintenance allowance (10%), management allowance (this pays you: 7 - 10%), etc.)A little subtraction and we have the Net Operating Income.Now you have debt service {mortgage(s)} your capital expenditure reserve (8 -10% of effective gross revenue) and {income} taxes which must come from your NOI.Whatever is left goes into the kid's education funds ;-)[Note:  I missed the been a 7-yr {live-in} landlord before I typed the above ... most of it you undoubtedly have mastered.  

Okay, only because your next question is kinda hard to understand....it's not 75% LTV (loan to value) it's ARV (after repair value less rehab costs) I think is what some goby.I don't use rules of thumb, I sharpent a pencil and use my calculator, see what the MV will be repaired, subtract costs of the sale, subtract cost of the rehab and my profit, costs to acquire it and then arrive at my offer.