While it's probably early stage given I am just starting, I figured it would be useful to at least start meeting folks and build those contacts/relationships early. 

Here is the formula to use when considering a deal:First you need to figure out the ARV(after repaired value) which is what the house will be worth when it's fixed up.

I figured out what my cut would be after my broker took his cut and asked the seller to reduce the price by that much.

Plus if you look at the population projections for the state of TN, Williamson county is the #1 county to have the highest growth rate from 2005 to 2025.  

It appears the units are below market, however with some cosmetic repairs and perhaps some capex's I feel I could increase the rent by at minimum (based on local comps) 68%.I would offer 85% of list and estimated $20,000 in repairs/upgrades (this is probably a generous estimate - the property appears to be in good shape, basically needs a face lift).With all these figures, including the 50% rule, financing with 20% down @ 3.5%, I come out to a profit of $262 per unit and a cash-on-cash return of 9.53%.So, does this seems reasonable?

I use the phone call to figure out how motivated the seller is and the general condition of the house, and what their asking price is if they have one in mind.But the main thing I want to do in that initial call is set an appointment to meet the seller.

Taking into account the time to remodel is something I really need to consider and you're right - I don't know many projects that come in under budget.

Hello all,I've been reading a lot on BP for a while now and figured it would be cool to post and introduce myself.  

Found a great BRRRR project over there to start with.

I see this as a win win, the lender gets interst, and I get to move on to my next  real Estate project.... any one know any willing to consider this?