It sounds like that's about where you are, with your "15% markup".Other stuff is where it starts to get expensive -- cabinets, doors, windows, roof, mechanicals, plumbing, electric, landscaping, etc.

The little things are the things that you will learn first and quickly - paint, flooring, windows, etc, the big things like roofs, AC/furnace, plumbing, electrical will come with time and experience.

There are already electric hybrids that use very little gas.More are slated for 2014 - 2015.If gas goes any higher and stays there it could be a death knell for suburban areas.More people will move to more dense urban living where they can walk and bike to work to reduce costs to survive.Used to there was a small class of the rich,a big middle class,and a small poverty class.Now the rich class is bigger,the poverty is bigger,and the middle class is shrinking into non-existence.Costs are going to rise and keep getting worse and worse.I want to be on the wealthy side.In many instances it is getting cheaper for me to eat out then buy at the grocery store.I can get a 3 course meal at Red Lobster for 7.99 and get 2 meals out of it.The restaurants are not having to raise prices at the rate of the grocery stores because alcohol sales drive most of the profits.If people think it is bad now it is going to get much worse.We need to stop depending on gas for transportation.It's a dead resource on it's way out.

Then go to as many REO properties as you can and practice your skill set.Here is some more info that should help you:Break up the home into sections - Kitchen, baths, flooring, paint, stucco, landscaping, plumbing (including fixtures), electrical (including fixtures), HVAC, interior doors, door casings/baseboards, windows/sliders/front door, roof, foundation, misc., and garage.Once you know what the common costs are for each area for a specific size home, you can see how easy it will become to walk in and walk out 15 minutes later with a rehab figure in your head.For instance, I know that a full gut and remodel including new toilet, new vanity, mirror, sink, glass door enclosure, stone/tile on shower walls, etc will run me $2500 per bathroom.

I'm open to ideas where I can buy materials more cheaply than Home Despot.I'll have someone else make and install the new staircase, help with electricity and my HVAC guy will install air.

It doesn't matter if its software developers or electrical engineers (my day job), contractors, or actual employees in your rehab business.

There is also a large barn on the parcel that is complete with water and electric.

He showed me how to do drywalls and insulation and electrical and plumbing , flooring.

The landlord pays heat and water, but each apartment has it's own electric meter and then there is another meter for common areas.

Other issues include - plumbing piping and electrical wires can melt, there can be structural damage, water damage from putting the fire out, etc.