Hello there BP land!
I purchased an adorable 1920s two bedroom home I am planning on buy/hold in for a while. When I walked the building inspector through he assured me the frame was strong and there was no knob and ...

One wall had already been reinforced at one time, and the back wall of the house was fine.I also had another contractor there to give me an estimate for the other items in the house:- painting- adding more cabinets to the kitchen- replacing the range hood- minor fixes here and thereSo I should have my numbers for rehab pretty well locked down by next week.

Get a DETAILED SOW (Scope of Work), broken down line item by line item with separate cost for materials and labor if possible.

The worst part is it is close to impossible to get an estimate for such an item without first tearing into things.If you are talking about water, it might be easier.  

Hi Jessy,I'm not sure if you are looking specifically for an 'app', but I have posted an Excel spreadsheet in the FilePlace that has a Repair Cost Estimator:It's prebuilt with 24 scopes of work, and 300+ typical work items & unit costs.https://www.biggerpockets.com/files/user/drobertso...

Either item can go bad.

Additionally, you can contact a local property manager and ask them what average vacancy rates are for your area.I'd also recommend creating a recurring capital expenditures budget amount to set aside each month to hedge agains upcoming replacements for major items like roof, furnaces etc.

If they have a more established rental history, have been employed longer or their employment is stable, the more likely you can collect if something like this happens (and the more likely they are to pay/not damage items so as to avoid this altogether).

Also flood insurance is a killer and with rates beginning to increase for the next 8 years if you are not above the heights for FEMA guidelines you will need to make the decision whether to eat the flood insurance as a line item, Which will get costly or front the expense to elevate to reduce flood risk for the foreseeable future.

Try repairclinic.com  I am lucky that they are local and i can just pick items up the same day, but they ship too!