I believe the one good thing about that spreadsheet is that it can be adjusted by the State you live in. because costs are different in every State the estimate sheet i believe is based on a multiplier for the corresponding State, as most cost estimating books are based. that program does break down a lot of information for you and i think it is a good program, one thing you may want to check is if the program updates every year with current multipliers for the States ( program is probably based on a starting average value for each thing and then the multiplier changes as prices for materials change) and you want to make sure it does that.

You eliminate the STR loophole which allows adjusted material participation qualifications

Construction Quality is key, there are some that are really basic, minimum code spec, and others that are quite high end, where it was built, on site or in a building and moved is not as important as materials and practices.

I’m fresh into real estate flipping about a year into it. 3rd project in and as I’m still learning, I get a lot of mixed reviews about material cost, and labor costs so I figured I’ll come on here and ask for some opinions.NOTE:I was told by an old-school investor that what I paid for labor was way too much.

Specific violations are as at 5/23/24:Violation 1: Harzardous/Insanitary PREM : Narrative/ Ordinance Description: Remove all burned an unsanitary material on the property.

At this point, the work (labor + material) is likely tracking at $15 or less per sq ft.  

The cost of labor and materials now is insane.The type of work on my custom house is about 400 a foot.

I had some problems with my General Contractor so I ended up buying my own materials on a great discount and have an out of state contractor who is a great family friend that I  will hire to do most of the work for me.

Are those just for labor or also assuming material expense, as well?

All of the BiggerPockets podcasts are great supplemental learning material.