Give him an estimate, of course.If this property is close to you, I would charge him a fee for overseeing work and use your best management firm, unless you want to manage it and charge him an additional fee.

Here are what the numbers look like at 76k:Purchase Price: $76,00020% Down Payment: $15,200 Closing costs: $4,000 (estimate)Rehab Costs: $11,500 (could be less)Mortgage Payment: $300Gross Monthly Rent: $1250 Cash Flow: $325 (using 50% rule).ROI: (325*12) / (15,200+4000+11,500) = 12.7%Zillow says the property is worth 130k, I am getting comps pulled as well.Just wanted to get some opinions on this, its getting harder and harder to find deals out there that are in good areas.  

@Jaelyn Whisler to come up with rehab estimates, it just takes practice really.

I was looking at the property on zillow and it gave me $396/month as the estimate for insurance so I used that in my calculations without even thinking.

If the repair cost estimate needed to get the property rent ready is more than you needed to have a comfortable ROI, but there's still plenty of equity in the house to do a flipWholesale the propertyFor example...

My advice would be to be very realistic about property values and the areas of Cleveland you invest in, have a good understanding of how to estimate repairs, and have a few exit strategies that you're prepared use if plan a dosent work out!

I know these are estimated (for the benefit of the seller) numbers but overall I think it looks fairly solid, WC Equity seems to have some solid reviews both on BP and outside. 

Hi Eric, How did you come up with your rehab estimates? 

If you have a good deal, i.e. not 85 cents on the dollar after your inflated ARV and understated repair estimate, buyers won't be a problem.  

Initial cash flow estimations looks like these will provide solid returns financed or free and clear.