Purchase Price: $39KRehab Cost: $32KARV: $100K  As you can see from the pictures, We redid mostly everything here; Windows, doors, flooring, kitchen, bathrooms and drain tile in the basement. 

General rule of thumb for hard money is 25% (plus closing costs) down especially if you don't have a lot of experience.

I am looking to see if anyone has any suggestions on how to get an accurate number on rehab costs.

I'd recommend the latter for someone starting out-- you could use a 203k loan which helps you finance rehab costs into your loan.

If you're looking to do a fix and flip - you'll need to come to the table with at least 10% towards the purchase price + closing costs.

A lot going on here @Russell Taylor (warrants more than a blog response) I would find a real estate specific CPA who is willing to take a legal yet effective approach to lower your tax burden

You will be out inspection and appraisal costs, but will get your earnest deposit back.  

I have been researching Citrona online along with some of the other companies that have somewhat recently taken interest in our area due to the low cost of purchasing homes in (key word) certain areas. 

I highly recommend that you utilize a low down payment loan (preferrably 5% down since it has less closing costs, you can get out of mortgage insurance once you hit 20%, and you save your FHA for another purchase) and move into a 3-4 unit property.

My real estate CPA has done several cost segregation studies for me and my clients.