If you do apartments in basement --check for plumbing problems or costs --for kitchen bathrooms etc --and seepage ( if ground water high) or flooding etc -- If you like so much --pay $1000 and get an Option for six to 12 months --tie up property and then do creative thinking and marketing --even find a partner-- If zonend for 24 untis MF --it may be easy to get zonned for a 40 room hotel - independent or weekly rentals --with kitchen --more profitable --if there is lot or tourists --good night life downtown -- etcOR basement can also have a retail --Salon / or restaurant --or health spa-- --think about long term --tenants-- Good luck..

That being the case, you need to become an expert on analizing the costs yourself.Here is what I would suggest: Spend many hours at Home Depot and/or Lowes to familiarize yourself with costs on typical rehab items such as flooring (carpet, tile, travertine, etc), toilets, bathroom vanities, sliding mirror doors, interior doors, baseboards, door casings, light fixtures (celing fans, etc) paint costs + paint supplies (tarps, brishes, rollers, etc), windows, sliding glass doors, kitchen cabinets and countertops, sod, trees, plants, bushes, ground cover, etc.

So have a blessed day....That same saying was on the kitchen wall in a house I bought at sheriff sale ...So I think you have to be somewhat willing to handle some of your own problems on a day-to-day basis ...Oh, and for reading, that same house had the book titled "A Day Late and a Dollar Short" - they really should have written the sequel: "A WHOLE Lot More than a Day Late, and a WHOLE Lot More Than a Dollar Short" :D

New Roof, New front porch, paint everywhere and remodel of the kitchen and bath.1 month to rehab.

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.

There is a rental property in pretty bad shape (needs new kitchen etc) in good location.

First floor kitchen needs complete update. 1/2 bath installed.

Its worth $150K.OTOH, consider a junker that has no working baths and the kitchen is wrecked.

It discussed estimating repairs, they gave us their price sheet for estimating repairs (with specific numbers to use for windows, floors, paint interior and exterior, roof, AC/Heat, Kitchen, Bath, landscaping, etc.), it went over hiring and dealing with contractors in a professional rehab with timelines and change orders, they discussed obtaining private money, hard money, etc, they talked about different ways of finding properties to buy, they talked about having exit strategies in place in the case that it wouldn't sell, having a project manager....that's all I can think of right now.

Hi BPmy project is moving along smoothly, we are half way donethis house is located in a very desirable northern suburb of Pittsburgh.the school is great. conveniently located near "shopping", on the commuter line for pittsburgh. no more new construction. middle income, family friendly community.the projected return is tight b/c this is first time in this market and I think I Comped it wrong. a few street away makes a huge difference b/c of lot sizes.it's total upgrade, open layout, reconfigure kitchen, upgrade baths, all new windows.