John, there is no cap rate on this property until you buy and if you don't know the market cap rate you will probably over pay and get screwed.50% rule is for cash flow estimation. 

Most of the conservative estimates I see are usually higher than that.

Learn what a deal looks like by understanding your local market's property values and learn how to estimate repairs.Hope this helps!

Hold / RentYearly Rental Income: $9000.00Property Management : 10% = $75X12 = $900.00/yearProperty Taxes: $2315.50/yearVacancy: 10% = $900.00Grass/Snow: Dealt with by TenantMaintenance: $1000.00/year (estimate)Net Rental Income: $3884.50/yearFix And FlipReal Estate Agent believes if we put about $15,000.00 into it we can list for $69,000.00.At a $55,000.00 sale(assuming low to be safe), We would have a $15,000.00 profit (aprox).  

I am needing to find a contractor  in the Salt Lake area, who can help me by getting me good estimates of rehabbing costs.

The property is already estimated at $164k.

I'm looking for a rough estimate on the cost to removal asbestos 9x9 tile in Rochester, NY. 

@Andrew MartelYou should have gotten the good faith estimate with the cost breakdown.

Plan to rent the house for between $1200-$1300/month.Rehab Needed: The house is in fairly good condition overall (solid foundation; new high efficiency furnace; newer water heater; updated electric), but we are estimating $25k in repairs.

You could write an additional condition into your offers that your ARV must equal or exceed the appraiser's ARV estimate.