ARV - $660,000Rehab - $135,000 (He really spent $175,000 but that's because it sat longer than expected plus a few hiccups)Purchase - $365,000Based on what I've learned from REIA meet ups and about wholesalers, typically you determine purchase price and wholesale fee using the following formula:(ARV*70%) - Repairs - wholesale fee = Purchase price($660,000*0.7) - $135,000 = $327,000.

I agree that if you have no money that wholesaling is the way to start, but I cannot understand why you would do flips to find long term rentals.1) BRRRR is a way better way to learn construction management than flips.

I have some construction and engineering experience which might or might not be useful in the future.

Typically properties I look at cost around $1.2M and need about $150-200k in renos to cash flow.

Again, this is typically initiated with a Pay or Quit notice giving a tenant a certain amount of time to remedy the problem BEFORE the next step which would be filing through the local court system for an eviction.  

Does anyone local have a rough price per sqft to assume for average construction with low end finishes?

There is typically a fee every month to keep the option alive, but there doesn't have to be.  

Hi,What is the typical process that goes into purchasing a larger apartment complex?

Comparable properties range between $260K - $280K.Why I want to buy:Save on rent as the mortgage will be cheaperFix the house and flip it while living in, holding it for 1-2 years for appreciationI would like to offer a low price on the property (reduce 25K+ off retail) since I plan to buy it as is, and upgrade everything in it since everything is from original 1990's construction. 

Finally realize rent appreciation typically correlates closely with property appreciation.