Let's say I buy and rehab a property for $50,000 (all expenses included here, I'm trying to keep it simple) and it's ARV (did I use ARV correctly?)

It's my first rental property completely rehabbed with new everything!  

I had a few. questions in regards to rehab cost, how do you find an accurate number on rehab cost. do you hire a contractor to come out and give you an estimate or do you look into cost of items that need repaired and calculate the cost that way. second  has debt to income ratio  bin a problem for anyone starting out when it comes to have approval for loans.

Couple watch outs you should address:1.

Hi BP—Since this is my first time doing a partnership, I need some advice on how to fairly structure the split....I'm coming in with 100% of the required funds for down payment, rehab, and mortgage from my SD IRA and my partner is bringing the deal, his network of contractors and property managers, and his own time and labor to help with rehab basics. 

I'm sure it will sell for more at auction, but it will likely sell for even more at market, and my mom being a realtor she could probably manage any rehab and sell it.   

-All carpet must be washed, free of stains, and no odor left-Locks must be in good repair and key's returned to the owner along with a forwarding address of where you are moving to.

Best of luckFYI you need to take off address when you request people to analyze.

What is the FAIR market value of both rents in current and/or in rehabbed condition?

I'd like to acquire a multi-family home, using a FHA 203k loan, rehab, and house hack the living hell out of the deal.