A 2-family in Cambridge for $525k?!?!

Here is what he sent me:Listed at 279k, units would rent for $725-750 each, taxes are $4,600/year, coin laundry income estimated at $1100/year.

Let's say, the property is priced up for 1,00,000 & there is an estimated repair cost of 20,000. which totals the money I have to spend to be 1,20,000. if the ARV is at 2,00,000.

If you don't have students, it's a good excuse for a quarterly inspection.Related to this, I estimated how long it would take to paint based on my previous experience painting and didn't factor in how much cleaning I'd have to do.

Either way show the inspection back to the seller with estimated dollar amounts for repairs and see if they're motivated enough to repair or adjust price accordingly. 

My house is currently, according to zillow estimated at 624000.

I am looking for a rough estimate for a 30,000 steel frame building 100x300 with 22' clear span.  

I agree the biggest mental hurdle is the contractor and getting the estimate on the rehab cost during the due diligence phase.

We do see some buyers picking these up now, so just depends on your market and what you have to do to get the contract.This looks like lenders estimate to me....so they like to be safe and estimate high. 

Do not give up any money direct to wholesaler and make sure you see an estimated close statement from escrow showing enough funds to clear liens and close the deal.