Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

One thing I definitely got hung up on was estimating rehab cost.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

I run numbers based on the listing and do a VERY quick down and dirty estimate of rehab based on pictures and listing description.  

Rough estimate would be $65 per 4x8 sheet of drywall. 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookYou might consider Niche or Specialized Housing like student housing.

Ive went threw twice, set up a business plan for the 3 rentals, had a professional heating and plumbing company go threw and give me an estimate.

Grab 3 estimates from local contractors for repairs, lets say ~25k.70% ARV - repairs puts the cost to the flipper at 45k.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookTo find out about an area go to IREM.org search for ARM certified property managers.