Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Essentially, the Good Faith Estimate is combined with the Truth in Lending (TIL) disclosure, now called the "Loan Estimate," and the HUD-1 settlement statement is combined with the final TIL, now called the "Closing Disclosure."

In my area I generally end up at 45%, but I usually estimate at 52% when I am doing a quick analysis.Other individual items to consider is lawn, pest, CAPEX (Capital items like roof, AC etc) maintenance.  

. $537 estimate monthly income Included pmi charge for no money down. $507 after 139 months

. $537 estimate monthly income Included pmi charge for no money down. $507 after 139 months

You do need experience to estimate the rehab costs as you will find many surprises during the process...Erik

a few days late since i am super busy with the current rehabs, but closed on #19 on thursday night. worked on it for awhile with the listing agent and the brokerage. they apparently have a great relationship with the feds and kept trying a few times to get the best price. about a month+ ago, it was listed at 72k, i believe. then a few days later it dropped to 64.9k. i offered 52, but they didn't take. they said they had another offer. then i offered 55 and stuck to it 3 times in a row. they said best they'd do at this time was 55.5, so i took it.it's in Garden City, but on the border with Westland. it's on a cross road (one that goes between 2 major roads, so that will push some people away. numbers look like this:purchase - 55.5krehab - who knows, after 18, i still can't estimate properly, but i am hoping $20k at mosttaxes - $2,500rent - average rent is $1,000the problem is that i am out of money right now and can't touch it until i am done with the latest 2 rehabs. i might do a little here and there like demo and cleaning up the yard of trees and such, but no major installs until we are done with the latest 2.my goal was 20 a year ago. i am close, so i just need a new goal.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

The initial rehab estimate I created is about $15k but the inspection found more than I expected(another newbie mistake).

This would bring my numbers as follows:Monthly Rent - 1500Principal and interest - 693Taxes - 1850 yr (154 month) estimating conservatively Insurance - 1200 yr (100 month) also an estimateCapex - 150 month Maintenance - 150 monthVacancy - 120 month (8%)No property management due the self managingTenants are responsible for all utilities (separate meters for electricity, gas and water.