The one existing house needs a cosmetic rehab as it currently has a late 70's decor, but I believe it is well-maintained.The estimated numbers look something like this:Property acquisition:  $700kConstruction cost:  $750k ($350k for each new house, plus $50k cosmetic rehab on the existing house)Sales price:  $1.8M ($600k per house)So the profit would be $350k.  

I did not give it a chance because I did not know where to begin.  

Our initial estimate suggested that it would take 6 months with 2-3 people working full time and subcontracting dry wallers and siding guys. 

I am not planning on purchasing real estate with this but in the off chance something comes up I would of course consider it.This is why I will be upfront with them that my intentions are just what I mentioned above (debt consolidation, home improvements, etc.)

Just a rough estimate

If the properties have to be inspected every 4 months, then it won't be free estimates anymore. 

Do you have any rough time frame estimate you can share on when the kinks will be worked out?

Seems like this method gives you a better chance at being successful.

Don't get caught in the trap of not wanting to hurt your cash flow, when that equity could be better utilized to generate more cash flow in a safely leveraged additional investment with all the other associated benefits of owning more property(loan pay down, depreciation, chance for appreciation, etc.).

I hate to ask for help, but am having one heck of a time figuring out an estimated cost for renovation on a property I will be closing on at the end of the month.