His estimate has me paying in advance labeled as ( items required by lender to be paid in advance) 12 months of homeowners insurance and 12 months of flood insurance then under that its labeled ( reserves deposited with lender) 3 months of homeowners insurance, 3 months of flood insurance and 5 months of property tax. 

Chances are extremely high that they will make their rent, surprise.I would then make it very clear that I will be letting them out of their lease and they must provide me official notice immediately that they will be moving the end of April.

In today's market here...I'd be willing to bet that if you are buying on the MLS, there is a 80-90% chance that you are overpaying.

By ensuring that each tenant member is capable of covering the lease by them selves, you are at less chance of risk of non-payment, should things go sideways. 

The estimate on Zillow is $95k ish and he only owes $55k ish.

Hey all,I'm a real estate newbie and I wanted some ballpark cost estimates (maybe 20K range?) 

Had you been able to make a portfolio offer (and had I been able to make a portfolio offer), we'd both have a good chance at taking the deals.Thus, the solution might be to partner up with a very large balance sheet player.

With apartments my initial criteria is taking 50% of the Gross Revenue and that's my crude way of estimating expenses at a quick glance. 

We are wanting to start a wholesaling business and are wanting to get a much better understanding on estimating rehab costs.

There has to be rehab work done for an estimate of 450k on the rest of the units.