My question is how do you quickly estimate a rehab budget for your buyers? 

While any licensed, insured, and bonded contractor is allowed to do the work, without 203k education or 203k experience, the contractor won't know the different versions of the 203k, timelines, guidelines, bid/estimate format, payment process, etc. and will be basically winging it.

Current estimated value of $700,000.

Those numbers are a good estimation in my book.

Analysts are talking about a 4 to 5 million unit deficit nationally, that's about 5 years worth of average production we need to do on top of the usual.My home town Milwaukee is a good example.

I also don't rely on sq ft to estimate a house per say.

thank you so much for your help. working hard on my estimating on rental property.

I was told by a GC out of NC that to estimate cost of repairs in a property you would consider a light rehab you could get the sqft of a property and multiply by $25, medium $35, heavy $55 and full rehab $75+.

If I rented it out today, I estimate I'd cashflow even or slightly positive to start, but of course I'm worried that I won't get as much per month in say, a year and a half.

So there's two elements I would suggest to focus on here:CostsResponsivenessCosts you can compare by analyzing the "lender fees" on a "loan summary" or "loan estimate".