If a 1250 sqft home needs to be completely remodeled (not including foundation work).

-Located near 2 major hospitals and 3 Universities -Original Rehab included 100% new bathroom, 100% new plumbing in the house, electrical updates, all new flooring, all new paint, and the addition of one new wall to create a "true" 3rd BR.

@Eric VeronicaYeah 33% DTI calc when including rental income.

She has since bowed out, so this time I am making all of the business decisions myself.I have already purchased Builder's Risk insurance for the property which does not include liability insurance. 

They see lots of Airbnb everywhere including in their community but HOA’s lawyer sent letter to immediately stop renting rooms to people.They are in 5 bedroom house and renting only 3 rooms to 3 people.

That will be close to 15K (includes new trim boards and painting).Thank you for your comment.

That small spread of 350 that doesnt include calculations for repairs and such is very unlikely to keep you above water.

And that includes using agents.

First thing to establish is what the project will include:- buy and rent out- buy and renovate then keep- renovate & flipEach of those Scenario's could mean different policies needed. 

Again, this is what I need to learn: The Flipper’s Profit (how much the flipper wants to make on the flip)Repair Costs (how much it costs to fix up)Fixed Costs (how much the deal is going to cost the flipper, including holding costs and transaction costs on both sides of the deal)