Ask them if your rental prices are accurate as you can't just go off databases.You mention a tenant not paying on time.

Hey Todd,I can't speak for your exact list but in my experience, the lists aren't super accurate in terms of recent events.

Both responses to the original post are accurate but may not be clear to someone unfamiliar with real estate.I'll use a similar example.

The true test of a successful business is one where the owner could go away for a month and come back to the same operation he left.

I heard a rumor that there are realtors that work for non-profit to get people into homes that cost 100k and less that will bring you the house to renovate and the buyer without commission costs as long as it falls under that 100k price tag for their clients, not sure if that's accurate though.

Since i'm just getting started and trying to test out what works and what doesn't I'd rather do more of the stuff myself so I can control how many cards go out, the day they go out and what areas go out.

So to me that means yes, I should as an investor do the work myself. http://postimg.org/image/7s4cj35kx/That is the current, not quite accurate floor plan.http://postimg.org/image/ugn2hk6d9/That was my first idea.I found a better way to open the kitchen, keep the formal dinning room, and the wall, saving structural issues, and TONS of money.New kitchen idea:http://postimg.org/image/fapgvsz7t/Not using the colors, but the open idea is what I think will help.Hope that helps

Here is how I do it:http://www.biggerpockets.com/renewsblog/2010/03/10/determining-maximum-purchase-price-mpp/To use the formula, you need to be able to accurately estimate ARV:http://beta.biggerpockets.com/forums/311/topics/73160-primer---estimating-arvYou need to be able to estimate Fixed Costs:http://www.biggerpockets.com/renewsblog/2010/03/17/calculating-fixed-costs-flip-rehab-wholesale-real-estate-deal/You need to be able to estimate rehab costs:http://www.biggerpockets.com/flippingbookAnd you need to determine your desired profits...I strive for 15% of resale value with a minimum of $15K (for lower priced projects).

Okay a quick update:Plumbing  - One less top out to replace and air test and we should be done. 

For a quikie, I have found eappraisals.com to be conservatively accurate.