so I think I found a good fixer upper for my first flip. as it is my first, how would you suggest i go about getting the best rehab estimate? should I reach out to a few contractors and ask them for a bid? should you pay for bids? if you had little to no experience, how would you decide the repair costs?
In your situation, you're going to want to get a bid from a contractor until you're comfortable enough to do rough estimates yourself. Some contractors may charge you for their time until they get to know you and see that you are reliable. Just think of the $50-$100 or so you may spend on an estimate as the cost of tuition at Investor University.
When getting estimates, take notes and ask questions. The more you see and hear, the better off you'll be in the long run.
Get at least 3 bids from different GC's to compare scope of work and pricing.
@Grayson Lynum Thank you so much for the inside view, every little bit helps!