The zestimate and trulia estimate is around $150,000 and I owe $108,000.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Is it wiser to purchase a primary dwelling and then after we save up again purchase an investment property or would it be more prudent to purchase an investment property and continue renting until the income from the new property accumulates?  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

I am trying to get better at evaluating my deals and one of the things I am looking for is to better estimate capital expenditures.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

4) How to estimate costs for each step?

I guess what I am wondering is that if this long just to get the Good Faith Estimate (still nothing), then once/if signed we start that 30 day clock to close, Offer on next deal, 30 more days once accepted to close that one. 60 to 90 days to rehab these things. that is alot of in between time.

The market could soften, this happens all the time. and your property that you estimated was worth 150K is now only worth 140K.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.