An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

Partner Jason Arguelles was also instrumental in collaborating to make the transaction seamless from start to finish.

Having trouble analyzing this deal as there are so many variables and I do not have the experiencing analyzing deals to make me feel comfortable taking the risk.Purchase price of the land would be $250,000 not including closing cost or fees, and construction for a new 3/2 home with an attached 1/1 ADU is estimated to cost around $300,000 - $400,000 finished.

He is now in a lease option agreement with the original sellers and is stating I will get my assignment fee when the property is finished rehabbed and sold (likely months away). 

It sounds like you're off to a good start and I think putting together 2-3 rentals in Colorado by 2026 is certainly doable/attainable. 

Fannie Mae's reduction of the down payment requirement for 2-4 units to just 5% for conventional is a game changer and has allowed house hacking to be more attainable.

Thank you both for your responses and for helping me reset my focus on more attainable properties.

Modern finishes, Washer and dryer and refrigerator.3bed/2bath minimum is preferred in the Texas Market.If you can add 2 car garage, that will make it more desirable and attach more buyers.All the best

Not only will the city laugh you away for trying to submit plans that arent stamped by an architect and engineer, I can guarantee you that your budget is not nearly high enough for what it really is going to cost you to finish out that building. 

Many competing offers will come from buyers with cash offers or 30%+ down payments.Properties that are most appealing to multi-family homebuyers on Long Island are those:- With newer finishes/recent renovations- 3+ bedrooms in 1 or more of the units- located in desirable school districtsTo make the numbers work and to find a deal where you may have more room for negotiation, I'd target:- Properties with 30 days on market (DOM).