I prefer to put every line item down with almost an exact cost so I can get hard numbers and have the % returns based off of those numbers, not the other way around.If I walk into a place with brand new roof, furnace, windows, kitchens, bathrooms, with quality construction, plumbing, etc...

Based on those numbers you are better off flipping it as lightly as possible, but making sure to remedy all the issues.

I don't see those expenses reflected in your budget.Even if this property is brand-new, you'd be better off budgeting a higher percentage for vacancy, repairs, and capex. 

I own/operate a family owned residential and light commercial contracting business.

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.

I get the job done and prefer to list my own houses to help ensure the property is presented in the best possible light and moves quickly.

Definitely switches on a couple of light bulbs.

Just wondering if anyone has ever gone through the motions of applying for such a license who could shed some light on the process.

Hi friends, I am brand new to BP.

I'm brand new to the world of real estate investing and am looking to get started with investing in the Los Angeles market.