“The toilet isn’t working.”5.  

Finally, you need to have a reserve fund for the inevitable clogged toilet or broken appliance.

She did leave a new shower pan and walls, but none of the plumbing is installed. 

If a deal looks ok with my conservative numbers - then so far they are panning out better than my conservative numbers which is good for me psychologically.

Re-did the bathrooms (tiled the bathtub surrounds, new bathtubs, new toilet, fixed the pipes leading into the tubs, new overflow and diverter and added shut off valves).8.

Turn on the water in the entire house, tub all faucets, and flush the toilets.

If nothing else... buy more toilet paper!

20-25% is on the low end…other things to consider - who pays to resupply the toilet paper, laundry detergent, and all the other “consumable” things one might expect to find in a vacation rental?

First we had a toilet that needed a new flange.

Remember, this is very basic...and these can get quite complex and detailed depending on the scope.These were;Demo/ cleanoutPrep & drywallPrime and paint all walls, ceiling trimPrime and paint cabinets- add new hardwareInstall new counter tops, sink, and faucetInstall LVP flooring in bath and kitchenCarpet squares in living and bedroomsReplace all light fixturesReplace all plumbing fixtures (sometimes toilet and sink/vanity)Add medicine cabinetRefinish shower/tubAdd wainscot and top railAdd new door hardware throughoutInstall new appliances...If you are planning for exterior work like replacing a roof, masonry work, adding siding or windows and doors your budget will double...if you are replacing mechanical systems like furnace or a/c or water heaters...your numbers will change drastically …Most of this stuff can either be estimated per unit or sq.ft. and you can get 80% accurate and build in contingency...What is the type of property, the sq.ft. and is there exterior and interior work...what about the structure...is it good...drainage good?