But, the only way to get there is hard work and experience.Trust me, it's better that way...having a thorough understanding of the process is invaluable, and if there was a simple way to estimate costs, everyone would be flipping houses.

If the HOA can fine unit owners for such complaints, these fines can rack up and quickly eat away your profits.Also, make sure to thoroughly examine the most recent financial statements for the development.

Outside of that, J Scott has a pretty good book on estimating rehab costs that gives you a pretty thorough explanation of how to estimate costs on your own.

I've enjoyed it thoroughly! 

@Dave Foster & @Paul Moore,thanks to both of you for the excellent thorough explanations.

I strongly advise that you always engage your own trusted and thoroughly vetted vendors to reduce potential liabilities.

Only reason I say not rush is that this is our first rental, so we're trying to be thorough in our process.

@David M. thanks for the thorough response!

@Dan Heuschele Dan thank y out so much for your thorough rely.

Between good advice and a thorough property inspection you should be alright to figure out about the quality of the deal.