So I drove around my neighborhood and estimated that I had at least an hour worth of gas (for the people who ever went through those hard times and know exactly when your car will shut down because of having no gas then you know what I am talking about) so off I wentSo within a 60 minute period, while the rain was pouring, I went out there.

I’m aware that I’m excluding fees, expenses, rehab estimates, etc. but let’s keep it very simple for now.

Does anyone have a formula or estimate for calculating insurance cost for 12-32 unit properties that are Class B/C in Mobile, AL?

Not sure what rental demand is like in your area and the quality of tenant, but those are important factors in estimating your expenses.

I believe you need 20% equity in the property in order to avoid paying PMI, but it looks like if you hit your estimated ARV, you should be able to get the property reappraised and eliminate the PMI assuming you have 20% equity! 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Can anyone give me just a rough estimate on the cost of building a new home 3/2 approx 700-1000 sq ft?

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

It was a trip to see a listing for $225,000 and Zillow's estimate of value is $175K.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.