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.

The condition of the house is good but needs cosmetics like paint, carpet, etc when I saw it over a year ago.

Relationship with local brokers in Miami, FL.Being a Bachelor in Engineering and Masters in Engineering Management I'm very detail oriented and have very strong analytical skills.What I don't bring to the table (Yet):First hand experience purchasing and managing apartment complexes.Strong balance sheet and liquidity.Lender experienceTamiel, I hope this information helps to paint a more detailed picture of what I'm about and maybe opens up doors to collaboration with you and your company. 

Yeah I have a friend in army with 706 credit so I don't have to rely on parents credit and from looking at the house its just cosmetic needs like paint carpet and maybe a little modern updates but everyone once you start taking things apart there maybe some other damaged underneath but from the look I think 10,000 in repairs would do the job.

Fresh paint goes on tomorrow, some recessed lights in the living room, etc.

Value of upgrades:When it comes to rental property at what point does upgrading the property (granite countertops, fresh paint, new vanities etc.) pay off with attracting the level of tenant that is going to be good to work with?

Are condition and lead paint disclosures an issue when flipping an older home?

so we put about 155k cash into it.40k   rehab  which included  new kitchen Roof.. and finish the basement.. and new front yard.it was a 1920's bungalow so she kept original HW floors and just coated them.. along with the windows were good wiring and plumbing were updated.. so basically new kitchen baths paint roof etc etc.

I needed work on severe wood rot in one of my properties (memphis), and the property manager (Marathon) was suppose to find a contractor who ..exact words on the contract:   Lots of siding on chase(chimney) that needs replaced, will take 9 pieces, 16 ft. then paint repairs $402.50After the work was done I had my agent take before and AFTER pictures.  

It's usually required if you're doing a large renovation of the property, but sometimes not if you're just painting etc. but again - based on your local codes.