To go even further, your capex and repair assumptions are going to be based on a few things.1) Age of the building - the older the building, generally the higher the repair expenses2) What repairs are you doing to the building - if you are renovating the entire building from top to bottom, you may want to be less conservative on the repair assumptions as everything will be brand new3) How conservative are you as an investor - some people will model properties out with zero room for error and they may assume a lower repair cost that you will4) What is your end game - if you are going to hold the property long term, I would assume higher repair costs as compared to a fix and flip that you will dispose of in a few months.Let me know if you have questions.

So it needed to be leveled and some of the seal replaced, new metal roof, 6 windows and a little bit of siding around bottoms.

The reason for the gap between entry level tract and million-dollar custom builds is that outside of the large scale developers, construction costs range from $150(rock bottom)-450(luxury) per square foot with 250 being about the price you can expect to pay for basic builder-grade finishes.

There is a 3 bedroom 2 bath 1 garage house,I tried to buy it a year ago for 30k and was turned down then I offered 35k and they said their bottom price was 41.5k, well I walked and they contacted me out the blue months later with a 26.5k price.

Bottom line, I owned the home shy of 3 years.

So I’ll do rental arbitrage for another 4-5 years until we are at the bottom of the market, and build up my capital to be able to buy a property at the bottom of the next downturn.

In Memphis I can paint a 3 bed house inside top to bottom for around 2 grand.

But bottom line, is that I'm not really sure where to start my baseline for a reasonable amount to charge for doing research. 

Often the bottoms of interior doors have some buildup as well. 

When the water level dropped and the water no longer reached the bottom of the "straw," we had no water.