If I know it's a flip I'll look more into any potential major issues like structural, plumbing, electrical, mechanical systems etc. which flippers don't always address, and sometimes try to cover up. 

We'd call this more of a unit turn than cosmeticLight rehab (we'd call cosmetic) would be in that range but probably with no mechanical, electrical, or plumbing (MEPs)Full rehab would be between $90-$110 - with no exterior work (including no windows).Studs out - seems to be about right - IF addition meaning new foundations and all new exteriors I'd assume $175 ishNew Construction - $200-$250+ depending on level of finish.Anyway happy to talk through it in more detail...let me know and we can grab lunch or coffee!

It had sat empty for a couple of years and needed almost everything mechanical, new paint, new flooring, all that stuff.

This house was completely renovated with a new roof down to the mechanicals in the basement and rents for just under the 1% ratio.

Inside each unit they had to cut an opening in the drywall to access the mechanical chase that brought the piping up from the basement into each individual unit.

The Compensation Mechanic is Completely DifferentA Flat Fee MLS listing gives sellers the ability to display a binding offer of commission to buyer agents on the MLS.

However, the mechanics of putting the scenario in effect are far from easy or clear because the title company will have instructions from the lender not to fund unless the borrower provides the down payment in cash, not in a seller financed 2nd lien.  

Define the scope to what matters (mechanicals, structure, roof). 

You know the mechanism by which interest is credited, you just won't know exactly what you will get.If you want to know what you will get, then get a whole life policy.

And make sure to account for the following in your operating expenses to get to the real cash flow:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance   a) Property Hazard Insurance   b) Flood Insurance   c) Earthquake Insurance   d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)   a) Water § Sewer § Garbage   b) Electricity   c) Natural Gas   d) Propane9) General Maintenance (usually 5%)   a) Upkeep § Landscaping   b) Snow removal   c) Repairs   d) New Appliances10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...