Non-jumbo, estimate 86% LTV, seeking to refi into conventional to free up VA entitlement.

Also watch the ARV's and repair estimates from wholesalers.

I'm soon submitting LLC paperwork and need to speak with CPA and Lawyer familiar with RE investing (flipping and portfolio accumulation).  

Estimated rent a month = $5,200. taxes= 16K. insurance= 1500 to 2K.

I'm using the Rental Property Calc to determine if a listing is a good deal or not for a renovation loan.However, when I insert the Estimated Repair Cost that amount is added to the Total Cash Needed, when on a HomeStyle or 203k loan, that amount isn't cash I have to supply, but instead it's rolled into the new mortgage.Does this skew the results somewhat?

I plan to live in the 2 bedrooms unit and rent the 3 bedrooms unit which can rent around $1650-1700 (Estimates based on average rents in this area from rentometer.com but I think it can rent for more because I see 4 bedrooms in the area go for $2400.

If so where would I start if I have no experience in estimating renovation cost and no connections with contractors?

I use 0.6% of replacement value for my annual premium estimates on SFHs and it hasn't burned me yet.  

Will most likely use an FHA 203(k) LoanWill target a home that's in need of repair in an ideal neighborhood -- between $80-110K purchase price with an estimated $20-50K in rehabI'd like it to be a 3 bed 2 bath or a 4 bed 2 bathI'll rent to friends during the process to at least break even on mortgage plus expenses (and live free)I'll sell with some forced appreciation after 12-18 months -- ideally at least $20K in profit

Please do not reply with mean-spirited comments or comments to try to knock me down, like so many comments seem to be on here.The basics are...ARV approx $200k, repairs estimated at $25k, and I want to pick up the property at around $120k.