Multiple people including myself have tried to caution him of the the true costs but he's been repeatedly dismissive and has made it clear we give him motivation and he wants to prove us all wrong (whatever that means). 

FlooringScope of Work:Replace carpet in bedrooms with engineered hardwoodRefinish existing hardwood floors in common areasInstall durable tile in wet areas (bathrooms, laundry room)Estimated Cost: $20,0004.

You also have to ask about delivery costs and more.LABORLabor charges are trickier to understand, but Google AI to the rescue! 

It did not cost me $0.01.  

.: Cost of risk scenario. 

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Time and practice will still teach you as you do deals but it will help you understand what things costs for the size of the property 

Yes we avoid custom work to help keep cost down. 

Figuring out the true cost will heavily depend on the type of dig down, depth, and total square footage. 

It will cost less than $150,000 and will need moderate renovation work.