does it need repairs? 

Make an offer based on that minus repair minus your fee minus your end buyer’s closing cost and about 25-30% for their profit.

My guys and I can easily do those repairs for less than that and bring them to class C apartments.

What are the repairs?

What is their hourly rate for repairs?

The issue that I am having is that I am not sure how to go about learning how to estimate (a) rehab costs and (b) variable repair and maintenance expenses. 

You can see if repairing it adds value that can help recoup it but likely the House is worth 25-35k at most if it’s good repairs condition

Would it be advisable for us to do our own repairs?

.$40.000 - Purchase price$1.400 - Purchase closing costs$10.000 - Repair costs$2.000 - Holding costs$3.900 - Commissions$975 - Sale closing costs$58.275 - Total Costs$65.000 - Sale Price (I split the difference in your range)$6.725 - Profit before personal taxes $53.400 - Total cash invested (Total costs - commissions - sale closing costs)12.59% - ROI (again assuming no financing)The ROI is not horrible but one thing goes wrong or if you are off on your sales number by just 5% and you lose ALL your profit and take a loss on this as a flip.The property you are mentioning should be a rental based on the limited numbers you provided.

Looking at this property in Riverside and here is my analysis. 8377 Cypress Av Riverside 92503Lets say I purchase 400,000 The actual rent on it right now is: 550 + 1100 + 750 = 2400Expenses (monthly)Repairs: 50Taxes 366Insurance: 100CapEX: 100Total Expenses: 616Loan20% down, 320000 loan30years @ 4.3% Mortgage: 1139Cashflow: 2400 - 1139 - 616 = 200 monthly Cashflow ROI: 2.61%Just looking for some feedback on this calculation, it looks like it isn't that great of a deal since ROI is only 2.6% but it does cashflow, so it can't be too bad.