I haven't talked to a building company since I am just currently browsing potential properties and analyzing them to get some more experience doing the calculations.But I can't really analyse any deals without knowing how much the refurbishment costs are going to be.I would like to know, what should be on the snagging list to make this into a proper kitchen and also what the approximate costs would be do to all of that.Property details:2 Bed / 1 BathroomCurrent offer: 110.000 PoundsARV: 166.300 PoundsEstimated repair costs: 20.000 Pounds (not sure if this is accurate AT ALL)Offer I am putting out: 96.410 Pounds (based on the 70% rule)Rent: 1000 Pounds per calender month (2 tenants sharing the house, 500 each)The property is located in an area with 3 universities and a hospital, so I figured there would be a good chance for letting this house out with 2 tenants (correct me if I am wrong).Here are the calculations that I have learned on my 3 day property investing seminar (UK based) and have implemented in my calculation spread sheet below.Please comment on the calculations if you see something missing or find odd.

@Ralphy Rosado   Ralphy check back in in 24 months and make a report on how many months you actually collected rent on that asset.. that's the litmus test.. looks good on paper hard to do in real world..

They are the only thing I've really had time to dig into since I got on BP because I've been in real estate school and studying for my test but I take it Wednesday so hopefully I can get that responsibility out of the way and focus on more important things like finding deals!

Also, the information taught in RE school is meant to get you to pass a test.

I am wondering if I can get an accurate way from another source.  

A contractor here takes a test before getting a city license, a private investigator takes a test here and KC and I believe St.

So IF that is accurate, it seems like there is almost as much advantage either in or out of a SDIRA.

This property would have failed that test unless investors are more aggressive in their assumptions around vacancy and repairs.Any wisdom someone could share with me would be appreciated.Thank you.

When you get your first REO listing, you will be expected to provide a quality and accurate BPO.  

The main reason being that accurate expenses are so difficult to obtain for small buildings.