Help me calculate please! duplex that needs some work

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Could use a new roof, siding, windows, and paint on the inside. currently renting for 650/unit x 2 = 1300 a month. After all these repairs thinking it could go for 750-800 maybe? i'm guessing $20,000 in repairs. what do you guys think?

There are two big variables... the potential rent, and the cost of repairs.  You either need to learn how to calculate the numbers to a point where you are very confident, or find proffessionals to confirm them for you.  The last rehab I did, I budgeted 14k (and I've been doing this for a while), but some unexpected things came up, causing our cost to fly past 20 (I'll calculate the damages next April, it's making money now).  That job did not included any expensive items like kitchens, roofs, siding, or more than 2 window panes.  So, yes, to someone who is not in your market, your numbers look very doable, and if you do have accurate numbers for repairs and rents, then I would call it an awesome deal.

Three more things to think about.  Location:  What type of tenants are you going to be having there?  Is it a place you'd want to live?  2nd:  I haven't gotten a loan that cheap in a year.  Rates have gone up.  Never bet on a loan before you have it without a healthy margin.  For example, the last refi I did was 4.75%... the one I'm closing on this week is 5.75%... that affected what I planned on paying significantly.  Also, as far as the loan is concerned.... you either have to have a sweet rehab loan, or some other way to buy the property.  3  Holding costs:  Not the biggest item on your list, but not nothing.  If you have to use hard money to buy the place, plus utilities, this could be $1000/month out of your pocket till the project is finished.

There are so many moving parts to this game, I keep thinking of other small (or large) details.  To summarize, this looks like a great property to go after... you can deal with all those details as they come up.  I'm guessing you're going to put a lot more money into this than you think, so be very careful with your numbers, and build in a margin to them before you make an offer.

@Sam LLoyd the loans I qualified for online with my credit score were around 4.5% some around 5% a couple around 4.3%. You have several interesting points. I guess my initial plan when analyzing this was to only loan for the asking price of around 115k then rehab comes out of pocket but obviously still counts toward the COCROI. Redoing the numbers if rehab costed 30k still return 10.27% on cash invested. Do most people get a loan that includes their rehab cost? I don’t plan on purchasing this property as I am due to move and be out of the country here soon, but when I get back into the lower 48 I am planning on taking more action on potential deals.

You're going to be hard pressed to find a bank that is going to give you a regular loan on a property that needs a lot of work.  It's going to be even harder to get a loan on the reahab costs.  That being said, harder does not mean imposible.  Here are several things that I have done:

Get an FHA rehab loan... You get a loan against the finished value... get inspections, and get the bank to disburse funds

Seller financing... Seller  gives you the loan against the property...

Sneaky bank financing... Get the bank to loan on a property that needs work, and cover the rehab myself.

Hard money loan... Subject property + other colateral to secure loan... rehab with credit cards... sell or refi to payoff cards

Hard Mondy rehab loan... expensive loan against purchase and rehab... followed by a refi.

These are some ideas... I'm sure there are more that could work.

FOR YOU: Since you are working on practicing your analysis... Just make sure you have the same loan terms in every calculation so that you can compare them consistantly.. but yes, you do have to anticipate closing costs, holding costs, and rehab costs as cash that you are putting into the deal most likely.