I'm looking for a contractor to do a walk through and provide estimates for rehab.

Also 203K will only allow licensed contractors to do the work, So you cant do them yourself. ( this could change your repair cost dramatically)     What is the average days on market for a rental, What is your estimated repair time?

Due to the negative cash flow he is having to come up with an estimated $182.50 a month over the long haul.  

The estimated rent is around $1,600, and that is what scares me a little. 

Since I am a beginner, I plan to use conservative expense estimates and get a mentor.

Non-jumbo, estimate 86% LTV, seeking to refi into conventional to free up VA entitlement.

Also watch the ARV's and repair estimates from wholesalers.

Estimated rent a month = $5,200. taxes= 16K. insurance= 1500 to 2K.

I'm using the Rental Property Calc to determine if a listing is a good deal or not for a renovation loan.However, when I insert the Estimated Repair Cost that amount is added to the Total Cash Needed, when on a HomeStyle or 203k loan, that amount isn't cash I have to supply, but instead it's rolled into the new mortgage.Does this skew the results somewhat?

I plan to live in the 2 bedrooms unit and rent the 3 bedrooms unit which can rent around $1650-1700 (Estimates based on average rents in this area from rentometer.com but I think it can rent for more because I see 4 bedrooms in the area go for $2400.