Inspection has identified all 20 things to be fixed (Wood Rot, Electrical fixture, Plumbing issues, Balconies Railling).

Details:Property: 2/2 to become at 3/2 with one wall added, 1400 sq ft, 1960s build, list price 115kMechanicals: new HVAC 2018, most of the plumbing has been updated to PVC/pex, new roof 2020.ARV: 150kOffer Price: 75kEstimated Rehab: 25kContingency: foundation inspection because there are some squishy spots in the floor.

This will help you get a better idea of what tile, hardwood, carpet, plumbing fixtures and light fixtures costs for your rehabs.#3 Contact Local Contractors for Labor PricingCall local Subcontractors and get budget pricing for common repairs on your typical rehab project.For example, call a roofer and ask what their average cost per Square of Architectural Asphalt Shingle Roofing would be on a 1,500 sf house, with a 6/12 pitch.Note: Some contractors will be reluctant to share pricing without seeing the property, but tell them you are just looking for a rough budget number you can use on future projects.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.

If it helps the below items are what stuck out the most:Plumbing:  Your material costs seems high on this, usually plumbing labor cost is a lot higher than material cost. 

Think about the 4-Point inspection:  Roof, Plumbing, Electrical, AC. 

As an example, here would be my summary level tasks (Acquisition, Walkthrough/Inspection, Initial Rehab Plan/Scope Definition, Demo, Foundation/Exterior, Plumbing, HVAC, Electrical, Rough Framing, Sheetrock, Painting, Flooring, Trim, etc... ). 

I had 11 of these and good systems in place but still had 1-2 evictions a year and 3-4 big things that were normal annoyances like plumbing leaks, damages from hurricanes, or some vandalism.

Remove existing carport and rear patio overhang, replace damaged framing due to termites, open up kitchen with recessed beam, new roof, all new plumbing, electrical, and HVAC, new windows, new flooring, new cabinets/countertops, new tile, paint, new sod at front yard.

@Victor Jernigan The property has a single address, but the garage has a seperate meter and it appears that plumbing had been run to it in the past.

@Joseph Kim you have the right idea, adding value to a property could be the addition of a bedroom or bathroom, updating the electrical and plumbing.