They are very mom/pop style and couldnt really give any specifics on other expenses besides electric 30, taxes 270, water 250, so i estimated vacancy, repairs, cap ex, management, insurance, etc.

Does anyone have any advice as to how I could officially do this so I can get a good estimate on wood would need to be done.

@Chance Bostick.

Hey BP community, there's a chance I'll be putting in my very first offer on a fix and flip property next week.

I may not be estimating the AFV correctly.

@Pandu Chimata ,The gain on the sale of the property is not taxed until your 2018 taxes are due in 2019, but if you made a significant profit, you might want to ensure that your W-2 withholding, if you have a regular job, is enough to cover the extra taxes you owe on the profit or make estimated payments so that you dont pay any penalties for underpayment of taxes you owe when you file your taxes 2019. 

Op exp: $5.0k Estimated Rental Income 2 units: $6.5K/month Cash Flow: $1.5kThere is still ~$500k of equity in Cambridge house to tap.

I'd love to discuss any tips if not, just connect with wholesalers and potential investors willing to give me a chance :) I'm ready to make that first initial sale that everyone talks about.Just a little about me:24 years old and really motivated so don't count me out just yet!

If your estimate of $60,000 is correct then you need your limit to be at least $48,000 to avoid a penalty. 

Can anyone recommend any good resources or rules of thumbs for coming up with a ballpark estimate for property insurance when doing a quick analysis of a rental property?