@Eric Schrader It's hard to talk about the deal without knowing the deal details.

Brief overview of how I've arrived at some of the numbers: - Comps in the area for the ARV- Estimated rental rates based on local similar properties (this place is currently vacant)-Estimating the repairs on the home in a general sense: 30k per side (still need to learn more on repair costs)Am I doing something wrong here? 

Contractor estimates 15-20k in repairs and the neighbor will sell for 50k.

Contractor estimates 15-20k in repairs and the neighbor will sell for 50k.

I'm a little confused as to why there is nothing for closing costs, but besides that it looks like a solid deal and the expenses you estimated seem to look realistic and even conservative.

The wrecked house is apparently from the '40s so everything you've mentioned could be present in spades as well as other contaminants.If there's access to the property, recent sales as well as a zillow estimate is pointing at about 60k for the entire thing, but that's assuming just flat land. 

He's got an incredible skillset or 'unfair advantage' as Brandon Turner talks about, having a background in contracting and being well equipped to quickly estimate a rehab job himself, something most investors need to bring an outside GC in for the bid. 

@Peter Bui You may want to partner with your lender for an estimate of closing costs using the specifics of the property that you're interested in purchasing and the type of financing that you have secured, during that conversation you can ask how closing costs are calculated to see if the magic number of 3% makes sense in your situation

Then interview those contractors.Make sure that you get a clear written estimate not only for money, but also for time.

Just kind of want to know the details before potentially attempting.Just want to know details such as how long it takes, where to refinance, what are the chances that my refinance doesn’t go through, etc...