Once you know average prices for sections (like $10k for kitchen, $8k for full gut bath, etc) you simply go and add up the sections and walk out with a rehab estimate.

@Anna Bee Interest rates are simply one component of a real estate transaction. 

With a HELOC, you could simply take out the $200k right before the purchase, but with a cash out refi you'd had already withdrawn $300k meaning you paid origination fees on an extra $100k that wasn't needed and you have interest charges for an extra $100k over the two months while you were waiting.I personally prefer not using hard money lenders as I don't want to be stuck with high interest amounts if I could avoid them with a HELOC, but I know many other investors who use them regularly without problems. 

If you don't know where to start, simply ask every family/friend, but consider presenting it as 'can I get your advice here?

. #3: You sent a letter to the owner of a rental property in your town, simply introducing yourself and expressing interest in their property, and they call you back.

I have left a letter at the address for next time they check the mail simply describing who I am and that I would like the opportunity to buy the property.

They are simply additional opportunities to consider along with marketed properties and homes sold directly by the seller. 

Simply order the part yourself, not like it would be worth going after the seller for a burner part (unless this is some super expensive part!).

The house was purchased for 203k, our remaining mortgage is 191k, and the current market estimate (although not an official appraisal) is 276k.Our goal is to accumulate properties through the BRRRR method, and as I see it, we have two avenues through which to do this:I can simply use the money in my account to BRRRR.I can pay off my rental property in Beaumont, TX, and utilize a HELOC to BRRRR.I know that most people will say that they never want to pay off a house due to the tenant paying it off for you, and the difference in percentage returns that you get based off of appreciation, tenant payoff, etc.

In order to house hack, do I have to physically be present in the home for a minimum amount of time or can I simply claim a room to myself while I rent out the other areas of the home?