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.

I realize that the rent number doesn't relate directly to ARV, but when doing a gross estimate, if I can buy a property, say at $120k that has an ARV/market value of $200k, do I look to the lower end or higher end when using the guideline?

Along with getting the house under contract you need to know what the seller is willing to sell their house for, and consider what they need as well as have the opportunity to evaluate the house and walk through it to estimate repairs if needed.

Also, $/sq ft construction estimates have increased significantly in my area in the last year.

Now that I officially know about the mold, I may have to pay about $20K (2 estimates so far) to clean it up, taking it back to the studs in some places, pulling back the baseboards in others, then cleaning with sporicide and doing air scrubbing in order to get an official clean bill of health since i can't rent or sell without that, having officially established that I have mold.

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.

Estimate immediate renovation ( upfront 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.

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.