Background: I was always interested in accumulating wealth at a young age, but fell victim to the cookie cutter mentality of 1) go to college 2) get a good job 3) and die.

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.

However that could change.  1st house 3bd 1.75 bath 1320 sq ARV is 140-150k (rough estimate)2nd House 3bd 1.75 1400 sq ARV 140-150k (rough estimate)He says he doesn't know what to sell the house for and he asked me how many cents on the dollar I'm buying at.  

I have studied flip books and repair costs etc, so I think my repair estimates are fairly close, but I'm having trouble getting a deal accepted.  

The interior needs minor touch up as well as paint and new carpet in the upstairs.My contractor did a walk through and estimated the repairs total 60k.

Zillow rent estimates are not accurate.What is the vacancy rate in your area?

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.

This is making it difficult to estimate the actual expenses for the property, which in turn, makes it difficult to determine potential cash flow or lack of cash flow.

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.

I believe you are in the ballpark with estimated 3% towards closing cost.