@Bob Bowling What do you look for when you are evaluating a condo?

But, I also know it is the cost of doing business.Mike, I inspected the house tonight, and in my evaluation, I feel the home will need interior paint in all rooms 1000 sq ft home, also MAYYBE will need carpet, maybe not. 

We make sure that the lenders get regular progress reports, and send pics, etc.

I would be concerned about a lot more than a formula when evaluating a franchise.

"Evaluations" are not a metric that I track.  

I'm very very new to the real estate market and looking for any useful and unique tips on evaluating my first investment purchase and getting off to the right start.

I'll definitely will keep everybody informed on my progress.

@Will Wu - I may have admonished you prior for hitting her hard, however you are now "in play" on this deal until either: 1) the property changes hands with another buyer, 2) seller informs you that your offer is not accepted 3) you decide to walk.This being said, you're just frustrated because this is not progressing along your choice of a timeline.

RentRocket could be useful for evaluating deals though, if it turns out to be accurate.

Preservation of capital, especially when it is not yours, is an important job.If you want to do rehab flips, then you must learn your market (know past and current inventory levels), know what is selling and what is not, who s buying and who is not, why that is, and then you need to learn about construction management, rehab costs, and finally, how to evaluate exit values (ARV).Once you are armed with these skills, and only after that, then you hunt for the deal, negotiate it, and take it down.