I am very tempted to have a contractor come in and give me an estimate on the rest of the work for me.

Are there any ball park estimates for rehabs you guys use?

Building A - 30 Units(Combination of 1,2 AND 3 BEDROOM UNITS)Asking price $3.2 M - Annual estimated rents - $315KArea - St Louis ParkWhat might be the approximate costs and how much we should offer on this and what is the thought process for the offer.Thank You in advance

Once all 5 spaces are rented for an estimated $6000/mo total I want to refinance at a projected cap rate of 9%.

I have no idea how to estimate the rehab costs.

In a training program I did I was taught to estimate costs at 50% of gross income when analyzing the financials, but after looking through dozens of marketing packages I have only found 3 where reported expenses even approach 40% and most are around 30% or closer to 20% of the operating income.

I am becoming very frustrated with my investor as I continually send good flips her way with excel spreadsheets to back up repair estimates (we own a remodeling company so we are pretty good at figuring it out) as well as CMA's that back up my ARV because I am a licensed agent with access to the MLS. 

I use the 70% rule and estimate rehab to be about 30k which generates a MAO of about 120k.

Looks good considering your estimated repair costs seem really high to me for a 680 sqft home.

I'm estimating my future refinances at 6 and 6.5%, just to be safe, as I feel that's where they will be within a year