Here is how I do it:http://www.biggerpockets.com/renewsblog/2010/03/10/determining-maximum-purchase-price-mpp/To use the formula, you need to be able to accurately estimate ARV:http://beta.biggerpockets.com/forums/311/topics/73160-primer---estimating-arvYou need to be able to estimate Fixed Costs:http://www.biggerpockets.com/renewsblog/2010/03/17/calculating-fixed-costs-flip-rehab-wholesale-real-estate-deal/You need to be able to estimate rehab costs:http://www.biggerpockets.com/flippingbookAnd you need to determine your desired profits...I strive for 15% of resale value with a minimum of $15K (for lower priced projects).

And you get the benefit of having over 70 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

And you get the benefit of having over 70 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

For a quikie, I have found eappraisals.com to be conservatively accurate. 

Am I accurate in my thinking?

And you get the benefit of having over 70 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

Account Closed Ask your local psychic what it is worth, that would be much more accurate than Zillow usually is.Get real comps, or an appraisal before buying.

Thanks Andrew for the feedback I am going to gather more information and wieght the pros and cons but am leaning toward doing it and having my own business.

That us NOT an appropriate or accurate means to evaluating repair estimates.

All information was gathered over the phone.