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.

Get cheaper estimates or do work yourself and if the plumbing is not broke then don't fix it.

You should bring in a contractor or 2 for an estimate and go from there. 

With all things good.. the property would bring in 6000 per month.. i am estimating 2000 operating cost not including mortgage payment. 

I estimate 1500 in taxes and 600 insurance per year, based on comps. 

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.

I bought a hud home at a great price well below estimated value so I am a proud home owner living in a construction site that's slowly becoming a very nice house. 

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.Download BP’s newest book here some good due diligence in Chapter 10.

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.

Here are the stats$113,000 estimated ARV based on comps $10,000 repair estimate (seller says $5k but I don't agree)Seller is asking $79,000This property is pretty much ready to go (very close to turn key) the wood floors need polyurethane, roof is metal it needs to be painted and the grass needs to be cut and bushes trimmed.