Then go to as many REO properties as you can and practice your skill set.Here is some more info that should help you:Break up the home into sections - Kitchen, baths, flooring, paint, stucco, landscaping, plumbing (including fixtures), electrical (including fixtures), HVAC, interior doors, door casings/baseboards, windows/sliders/front door, roof, foundation, misc., and garage.Once you know what the common costs are for each area for a specific size home, you can see how easy it will become to walk in and walk out 15 minutes later with a rehab figure in your head.For instance, I know that a full gut and remodel including new toilet, new vanity, mirror, sink, glass door enclosure, stone/tile on shower walls, etc will run me $2500 per bathroom.

There is a rental property in pretty bad shape (needs new kitchen etc) in good location.

First floor kitchen needs complete update. 1/2 bath installed.

Its worth $150K.OTOH, consider a junker that has no working baths and the kitchen is wrecked.

And/or maybe all the key mechanicals (roof, hvac, bathrooms, kitchen) have all been updated so I know I won't have to touch/update anything major for awhile.

Do you suggest us getting the company in for the remediation before work starts, or wait till we demo the house, and remove most all things that won't stay anyway, such as carpets, vinyls, kitchen cabinets, wood paneling?

Mehran KamariI'm looking more to flipping and buy/old.While I have been in the IT field for the past 25 years, I have also completed a number of bathrooms, kitchens, and basements in my spare time, so I know my way around a tool belt. this will allow me to do a lot of the work myself in the beginning.

This includes new cabinets in the kitchen, rewiring damaged electric and plumbing. additional electric and plumbing remains as well as new flooring and carpet.38

I enjoyed fixing the toilets, remodeling the kitchen, etc.

Luckily the kitchen only has a single layer of faux wood grain vinyl plank on the concrete foundation.