Newby trying his first total house renovation

[Brian Garrett]

Hello everyone,

I am a newbie to the whole real estate investment world and am looking to move on my first property if possible. I have been reading books and I have been studying everything I can. But due to some issues, my mom is being kicked out of her home soon due to the homeowner selling the home (she is renting). I am looking to buy the home myself to help my mom out and use it as a learning experience for my first investment and keep my mom as a tenant. 

With that being said, I am looking for some insight and help in developing my budget and plan for this project. I know the house needs alot of work, so I was hoping to make a rehab budget and then develop a rehab cost number which I will use to develop a bid to see if I can get the house at a reduced price since it needs work. I was able to get an inspection done and from that I know the main work needed is as follow:

1. Under house crawlspace:
   • some foundation pillars or crumbling and need replacement.
   • Major leaks under main bath causing wood beams deterioration.
     • Multiple minor leaks to wood beams in different areas as well.
   • HVAC duct work is leaking at connections. HVAC duct work insulation is also deteriorated.
     • No vapor barriers installed either
   • Some fungi/mold growth noted
2. Plumbing
   • Multiple small leaks under sinks and from bathtub and toilets.
   • House has Polybutylene plastic plumbing which is dangerous
   • Main shut off valve is damaged
3. Electical
   • Some small exposed wiring and bad splicing.
   • Whole house has no GFCI's or grounding outlets
4. Interior
   • Moisture spots on ceiling
5. Exterior
   • Lose Vinyl Siding
   • Door Jams and Window trim have moisture damage
   • Driveway need replacement
6. Roofing
   • Minor leaks noted in attic
     • Recommended to replace roof covering, but not whole roof
     • Some fungi growth noted in roof
     • So some of the question I am trying to tackle with this work is:
       

How much should I budget for the main issues listed? (I just don't know if this could be 60,000 or 100,000 as I am completely new, I know it can not be exact and contractors will not help me unless I purchase the property. Knowing a ball park figure can help me pick a price I will see if the homeowner will accept because there is alot of needed work)

What kind of project planning should I do to make this an efficient project and reduce cost but keep quality? Like should I start at the roof and go down, or start under the house and go up? Will all floors need replacement if I take them all up to work under the house or can a reuse the floors (they are hardwood floor, old and need some refinishing)

Of the steps needed, what are the most DIY friendly for a newbie like me? I live out of town but I can come into town for a week or 2 to complete some of the easier jobs. Like should flooring be simple enough?

Is there any sources I am missing where I can read to get such info as well?

Any help is greatly appreciated,

Brian