![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/446356/small_1621477022-avatar-jeremyk19.jpg?twic=v1/output=image&v=2)
7 May 2019 | 7 replies
I am going to view a HUD foreclosure property this afternoon with a client on mine here in Connecticut and for us these are the easiest homes to access.Of course the contractor bids are going to be high because they can't tell much from those pictures so they overbid to protect downside for themselves just like you are doing by bidding without seeing the property.Find a way to get in these properties and your budget will be a lot more accurate and you will be able to see if the budget can be shaved at all.The online tools we all have access to are great and can save people a lot of time when evaluating properties, but there is no substitute for walking a property.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1367687/small_1621511684-avatar-walterf13.jpg?twic=v1/output=image&v=2)
8 May 2019 | 6 replies
How would I go about accurately estimating the value of repairs without looking at the property or contacting people for the sake of time and not spending money?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1373507/small_1621511728-avatar-devonc25.jpg?twic=v1/output=image&v=2)
13 May 2019 | 6 replies
Looks like your closing costs are too low, typically 5% is an accurate number.Typically you should aim for properties that follow the 50% rule, which means that your expenses should be around half of your income from rents.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/979200/small_1621506715-avatar-joshpryor21.jpg?twic=v1/output=image&v=2)
7 May 2019 | 3 replies
You want to avoid any unnecessary bad feelings with your tenant going forward.If the above is somewhat accurate, I have a question for you.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/814854/small_1621498419-avatar-robertj136.jpg?twic=v1/output=image&v=2)
7 May 2019 | 8 replies
Charge the tenant as accurately as possible.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1042020/small_1696918894-avatar-carmelag.jpg?twic=v1/output=image&v=2)
8 May 2019 | 8 replies
You're on the right track, 50% is a reasonable rule of thumb, however $/unit is more accurate.
8 May 2019 | 14 replies
One year can not give an accurate idea of expenses.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1263241/small_1621510788-avatar-dally22.jpg?twic=v1/output=image&v=2)
8 May 2019 | 5 replies
But I am having difficulty learning how to do accurate comps.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/270710/small_1621439191-avatar-chrisb13.jpg?twic=v1/output=image&v=2)
8 May 2019 | 5 replies
I called my insurance company and got a quote for the lower coverage witch they went on and on about how accurate their numbers are for rebuilding, but when they finally provided a revised quote it was a few hundred dollars cheaper a year.Second, then I shopped around using my new replacement cost amount and found a company that was even a few hundred dollars cheaper than the revised quote from the company I used at the time.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/127099/small_1621418121-avatar-palousejohn.jpg?twic=v1/output=image&v=2)
8 May 2019 | 5 replies
There are online tools you can use but I am not sure how accurate they would be given the number of units you have.