Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

There is currently a family with 11 kids living in both houses, owner occupied, not currently a rental.I've already contacted my insurance agent to get his point of view and an estimate.

Crude analysis:50/50Monthly rents $3,34050% to expenses, 50% available for debt service: $1,670 Debt service $611 (An estimate of trulia of 83.2k @ 4.125 amortized over 30)Cash flow: $1,059 ~ Annual, $12,7081% Rule: Purchase price (all in) 104k, monthly rents, $3,300 = 3.1%And now, sorry this will get a bit longer, a slightly more detailed form (the best I can do at this point):Gross monthly income: $3,340Monthly Expenses:Vacancy @ 8.3% (local property manager though this was accurate) = 277.22Water & Sewer = $102Management @ 10% (although I'll do it for the foreseeable future) = $334Garbage?

Crude analysis:50/50Monthly rents $3,34050% to expenses, 50% available for debt service: $1,670 Debt service $611 (An estimate of trulia of 83.2k @ 4.125 amortized over 30)Cash flow: $1,059 ~ Annual, $12,7081% Rule: Purchase price (all in) 104k, monthly rents, $3,300 = 3.1%And now, sorry this will get a bit longer, a slightly more detailed form (the best I can do at this point):Gross monthly income: $3,340Monthly Expenses:Vacancy @ 8.3% (local property manager though this was accurate) = 277.22Water & Sewer = $102Management @ 10% (although I'll do it for the foreseeable future) = $334Garbage?

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

For whatever it is worth, the Zillow "estimate" is over $250,000.  

As far as a flip, use recent sales comps, trulia estimates aren't going to be accurate.

Right now I'm trying to do my best with estimating ARV , so I wanted to know if their is an easier way to do it that anyone knows about?