I am waiting on the estimate with the numbers to review but I wanted to see other investors input on this.

Lots of wholesalers like to under estimate repairs, and over estimate the ARV.

What is the estimated rent value in current condition?

I always figured repair costs can only be estimated once an inspection has been done.

I haven't run the numbers yet, or even confirmed the $1.2 million estimated selling price, but I'm planning on calling him tonight to get more details to put into the analysis.

That being said, when we do rehab, we attempt to estimate the costs of the project for the contractor (project schedule + itemized quote) and pay those amounts along the way.

Will need to add bathroom, foundation, siding, electrical, all the above - estimating rehab costs at around $50k with me doing a lot of the work.

I estimated that the ARV would be $400k and I budgeted $75k for rehab. 3 of the units need a lot of work. 

I do have a vague number of $20K/passive per month, and know about how many doors I would need to achieve that, but haven't actually worked backwards to estimate a timeline - so that will be my project for today!

Not sure about your area, but I don't have a list of subcontractors that will pick up the phone and snap to it within a reasonable time to give an estimate.