Hello so there's this property that I would like to acquire but I want to know if I'm wasting my time reaching out to them or is there a possibility that I could make money on this.ARV: $500,000Rehab: ~$33,500 (probably cosmetics but did 15*square ft just for an estimate)Acquisition price: $390,000 (that's how much they owe on their mortgage)Estimated Costs: ~$47,800My AOC: $10kPossible Profit for Fix N Flipper: $44,400Are my calculations sound or is there something I'm missing?

But, what about changing all the outlet and switch covers so they don't look like crap compared to the freshly painted walls?

With that being said, the exterior can use a minor face-lift:- paint job- tear down this concrete wall- replace the back gate door (POS wooden gate)2.

I think that most insurance can feel like a waste of money but it is usually meant for people to correct them from a major loss.  

A fairly new home that was built in 2007, but the previous tenants had pets that they never let out to use the bathroom, and kids that liked to color on walls, etc. 

Even if you are legally due the EM they can deny and tie up in court and although you might eventually prevail you will waste a lot of time and money.

Maybe they ran out of money or don't want it for another reason - either way we're interested because they've done most of the hard work.Sean mentioned that usually the toughest part in starting a project is the demolition aspect, getting down to the walls is important so you can see what's behind everything.The property is on the market for 180k, that's not going to happen so we'd make an offer around ~115k ideally.  

I would like the benefit of being able to get more information on properties without wasting a realtors time weeding through a ton of properties.  

It's the one commodity nobody wants to waste.

I do have a realtor friend, but I didn't want to waste my goodwill my requesting a ton of estimates as we are starting out.I suppose I could get a general feel based on comps with just really rough numbers for adjustments to find out if the deal is worthwhile at all.