Get more estimates.  

As a conservative estimate including taxes, insurance, 5% vacancy, utilities, and repairs we would have been netting over $800/month.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookCouple good reads 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper How to Start Wholesaling: Getting Past The Education and Into the FieldDownload BP’s newest book here some good due diligence in Chapter 10.

This is a rough estimate, but helps get you a guideline.It's been about a year ago, but another investor wrote 10 yellow letters in NLR and got a deal.

We have owned our current home since 04/2003 and the current plan is to keep this home as our first rental.Basic details on the property in question:SFH Built in 1986. 3 BR, 2 B, 1,694 SFPurchase price in 2003 was $124,900Tax value is $137kAppraised value (personal estimate) is $165kLoan balance is $57k (refi on 15-yr note in 02/2011, overpaid heavily to this point)Monthly P&I is $677Yearly taxes are $3,100Yearly H/O insurance is $1,000House is very nicely updated throughout (I've updated constantly since we moved in 13 years ago).

Hello everyone,So I'm currently looking into investing in condos in the Ventura county area in California and I wanted to know how do you guess estimate for the HOA dues/fees? 

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/flippingbookHouse Flipping resourceshttp://www.biggerpockets.com/renewsblog/2013/09/28/best-biggerpockets-house-flipping/Step by Step Guide to Flippinghttp://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/You might consider Niche or Specialized Housing like student housing.

#01  SFH-3/1$65,500 Asking $9,900 Rent ($825/month) $876 Insurance $748 Taxes $841.5 Management (under current management) $1,386 Maintenance & Vacancy Estimate (each 7%) $6,049 Estimated Net Return (CAP 9.24%)COC = 15.11%#02  SFH-2/1$59,900 Asking price $9,444 Rent ($787/month) $801 Insurance $724 Taxes $803 Management (under current management) $1,322 Maintenance & Vacancy Estimate (each 7%) $5,794 Estimated Net Return (CAP 9.67%)COC = 15.76%#03  - Fourplex 2/1’s$169,900 Asking price $30,072 Rent ($2506/month) $2,273 Insurance $2,774 Taxes $2,556 Management (under current management) $4,210 Maintenance & Vacancy Estimate (each 7%) $18,259 Estimated Net Return (CAP 10.75%)#04  Duplex-2/1’s$79,900 Asking price $13,200 Rent ($1,100/month) $1,069 Insurance $893 Taxes $1,122 Management (under current management) $1,848 Maintenance & Vacancy Estimate (each 7%) $8,268 Estimated Net Return (CAP 10.35%)

I have laid out plans in a way that the property is ready for rehab, Architectural drawings are in place, building permits are in process, Scope of Work estimates from 3 GC in place.