Stop eating out, drinking, smoking, drinking $5 lattes, or whatever is wasting your money and tighten your budget.

Although the costs associated with the services may dip further into your budget, it depends on how highly you value your time as an investor, and whether or not you can afford to spend time doing these things.What are your thoughts?

I consider my house a long term investment and budgeted for these - in your case it sounds like you may have limited funds outside of the inherited property - are you prepared for potential additional expenses in the next 3-5 years?

@Chris SeveneyI had no idea that foreclosures might need that kind of budget to get them up and running.

The best anything you can use for leads if you don't have a budget and you want to wholesale is still driving and walking for dollars and then spending a little bit to skip trace your top properties.

Thinking about buying (budget is $750k~ $1m) and renting for three or four years before moving in.

I invest out of state so I need to learn how to make faster budgets for my rehabs. 

Repairs - You will likely need to know how to budget the repairs as well.

I have not had issue with self sufficiency though as can use high projected rents that newly rehabbed units are going for.NOTE: Experienced realtors who have other options for buyers will advise their client NOT to accept your offer when FHA 203K vs a similar priced Conventional offer as the 203K has a significantly higher chance of not closing due to budget too high, etc. so you may have to offer stronger then normal to get these 203K offers accepted, especially in this market. 

My rehab budget is $50-60K.