In my own limited contractor experience, I always figured my time and materials as accurately as possible and then factored a 10% profit margin on top of that.I would think that any software would have to somehow be locally calibrated, because material and labor cost can vary dramatically from region to region.

Rent is 875, they pay their own utilities.

Unless you are working a short sale or utilizing some type of low equity exit strategy (lease optioning, note carrying, or long term rental) then you should focus your attention on the properties that most likely have equity (old deed dates or low original note amounts).

Would it be more economical to utilize the equity in his home to supplement his expenditures.

I won't spend a dime on training material, or classes until you go to your local real estate investment club.

www.bestnetcoach.com I don't give any extra support to those who don't pay for it but you are welcome to look at the material there.

Even if you could afford all cash down so you have no mortgage, you still are left with taxes, utilities, management, maintenance, vacancy loss, and the list of expenses goes on and on.

Make sure this will be enough to afford that new A/C unit next summer ;) (my luck, the AC would go out in the winter, go figure.lol)-if the property is any decent size, maybe 1ac+, i would look for the following: wetalnds/ floodplain, utilities, buildible terrain, etc.

City utilities, or not?

The basic numbers I see are usually:Purchase Price- price you pay for the propertySelling Price - amount you will sell the property for (not necessarily what you will list it for)Holding Costs- monthly payments, insurance, utilities, points paid upfrontRE Agent Commission - agent's commission on the sale of the property (commission on the purchase of the property is considered paid by the seller)Rehab costs - total expenses used in rehabbing the property from lawn, paint, permits, property inspection, contractors, supplies, etc.Profit - the amount you must make to take the dealIf you take the selling price and first subtract the purchase price, then subtract the expenses (holding costs, agent commission, rehab) you should have your Profit amount.