It was hard to see the lump sum money go since it could have been used for another project.

@David Faulkner what would you think of project manager/key "turning" operation (not ready to go, but helps make it ready to go)?  

As an active investor you are taking on more of the project and managing the elements.

This has not helped out in the least because of the hundred or so properties I have analyzed, none would ever qualify for their lending.In essence, they have absconded with my money, and do not intend to ever fund a project, because of their high fees, and the unavailability of rehab properties in the market they have rigged the game against me.I hope someday I will be able to get my refund of the money I lost to these people.

There is no universal figure that works everywhere that I am aware of.

(no labor cost in the figures) when I rehab a new property i buy we generally put in a new water heater, if the furnace is 20 years old it gets a new one, (order from e-barnett.com)  you would need about a 70,000 BTU furnace, they run about $550 for a 92% high efficiency shipped to your door, (plus install)  

Thats a big task and in my opinion a little too big of a project that I wanted to undertake for my first property.I have been looking for more good deals in the area but I keep getting agents showing me properties that are already at the max for the neighborhood in terms of appreciation and I wanted to find something that was below marked value that I could put some sweat equity and decent rehab into.

Find a local small contractor that specializes in water damage and get them to bid the project making it crystal clear that it's you paying and not the fat wallet insurance company.

Let me know as with my deep expertise in Software development & Big Data I am looking to pick one problem to solve as a fun project as long as it has the potential to help at-least 1000 Real Estate Investors on a regular basis.

I can remember as a young adult all I wanted to accomplish in life was to have a job I loved that made me six figures a year.