.- he got written estimates on all of the work in 2014, and they totalled $200k.- he had a different contractor begin work on the property without permits, as far as we can tell (there is no paper trail- permits, receipts - nothing). - they did plumbing, electrical, demo interior, installed duct work, new sheetrock and sub floor,  kitchen and bath cabinet, counter, sinks, tubs, toilets, tile work, and new windows throughout.- additionally, he purchased light fixures- interior doors- and appliance packages for each unit which are all sitting in storage now.- since he did not do the roof, there is now water damage from the leaky roof, to some of the new sheetrock and sub floor.Here is where we have gotten so far:**read a bunch of info on NOI, Pro forma, CAP, and looked at other delapated multi family buildings that have sold in the area. 

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.

2.) why it is subtracted from estimated retail price to get maximum purchase price?

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.Download BP’s newest book here some good due diligence in Chapter 10.

This is a rough estimate but it looks like it should cash flow.2900- rent1300 mortgage232- Vacancy232- maintenance232- property management511- property taxes100- insurance=2607- expensesCashflow +333 a monthIf you do plan on developing the property further you will need to check with city zoning department. 

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.

He has been working for an Investor for a couple of years now and is going to teach me how he does his SOW and estimating the cost to renovate a property.I was hoping someone could give me some ideas on what to pay attention to or what type of questions to ask him during my visit.I purchased @J Scott book on Estimating Rehab Costs, which I will be taking with me and ask him questions that I had from the book, but I would appreciate input on what other things I should ask to get the most out of my time learning from him.Thank You

Redfin estimate gives this property an estimated value of 322K based on recent comps.Duplex in Little Haiti came up on the MLS at 5pm today for 179K.

And lastly, 3) When making your offer, is it usually a tentative one contingent on a contractor's estimate of needed repairs?

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.