I will show you why its a deal, with real comps, I will show you how I do repair estimates, I'll let you know what marketing I did to find the deal, I will show you what I expect to make from you when you buy for cash, etc.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

If you want them I would get quotes from others in the area and compare that to your 7000 dollar estimate form your builder.

Live for free, cash accumulation, keep a close eye on the property, etc.

Also have no experience in construction and therefore lack the confidence to make an estimate on those costs when evaluating properties. 

The estimate value of that house is around $650K.

Also, I need to get someone in there to estimate the extent of the termite damage.  

Because these are cheaper, you can accumulate these a bit more readily.Newer B to B+ to A- houses don't have as strong a rent-to-value ratio, but they often have fewer things go wrong over time, stay rented steadily, and have fewer tenant drama issues. 

If they say "yes," then start getting your estimates together.

Hi jesus, Find out who the best (the one that lists and sells the most similar properties near yours) local realtor is and tell them you are thinking about selling and they will provide you with a free market analysis or CMA (comparative market analysis) that will include recent comparable sales and an estimated time to sell or DOM (days on market).Tell them you want an as is valuation and an after repaired valuation and what repairs would add the most selling value.Then get estimates on those repairs, and see which way you come out best.Good luck.