What's your approach to evaluating the condition and determining the rehab cost of a foreclosure?

I am evaluating a senior independent housing units.

Don't get into a hurry, know your market, have a solid business plan, (a real business plan written down), and learn how to evaluate property.  

I've been evaluating properties for about 2 months, trying to find an SFH with at least a $350 a month cashflow.  

Every property I evaluate, my personal "effective rent" would be far far above market rents.I'm also trying to get the numbers to work right now on a SFR to duplex conversion but it just won't add up.

Just throwing my 2 cents out there - I know several 'paperwork' agents who are super savvy and fast at putting in dozens of offers for investor clients, but have little to no experience in finding or evaluating deals.

Nothing to do there except appeal the increase, but given the rise in real estate values, unless your home is appraised inappropriately, probably a waste of time as I believe my houses in Texas were re-evaluated upon sale.So that leaves us with the drywall.

hi donnell. equity evaluation is hard. basically, you need to find comps in the area. look at the average price of those and subtract what the flip house is selling at. thats your basic equity. then, of course you have to add in your rehab costs to see where you are at. if, after purchase and rehab, there is a positive difference between what you have invested and what you could sell for, thats your equity. 

You need to evaluate the property differently than I would right now. 

I spoke to a sales rep there, and evaluated the properties and the rents.