I use a spread sheet to itemize income and expenses.

The total project cost through opening is $800,000, broken out as follows:-$150,000 white box-$160,000 liquor license-$110,000 sprinkler system and new hood-$106,000 kitchen and bar equipment-$140,000 fit out-$40,000 tables and chairs-$90,000 critical-path items to openingI was already prepared to invest $200,000 towards fit out for a proven operator.

Our OPINION:1) Adding license contractors should be no big deal if they cooperate with supplying copy of license, proof of insurance (and add PMC as additionally insured) and sign a W-9.2) Charging for estimates is not typically done - unless owner wants multiple bids beyond 2.3) Often doesn't make sense to waste time & effort getting a 2nd bid for specific items PMC does often or for bids under $x amount.Otherwise a 2nd bid should be done.4) How do they assess issues then?

Paint should have a general quote amount and a scope to it and then those items can come out of the list.

The % your choose will depend on your risk tolerance but I like ~20% buffer for holding costs if your timeline gets extended and ~20%+ for your rehab for the items that the home inspection or walking the property doesn't catch that inevitably pop up.Hope that helps!

Examples: $30 fuel surcharges for every visit, receipts from 3-4 different hardware stores when all items could have come from 1, 6+ hours of labor charged on repairs that should take less than 2, going with third party vendors that are over an hour away from the property that charge for drive time, etc.

What's going on with the individual line item operating expenses? 

Duplex seems about right, of course depending on the items mentioned above. 

My suggestions for anyone reading this….Before signing a rehab contract: get at least 3 bids, check that each includes detailed line items (materials + labor + markup).Set up the draw schedule: only release payment after verifying completed milestone.Have a worst-case scenario worked out: what if rehab takes 2× time, what if lease-up is slower, what if refinance drops?

if you don't meet current market trends/ competition on the MLS it could end up costing a lot more than the savings vs quartz. if it looks cheap there the alarm bells and over all impression set what a buyer is looking to pay they don't line item their price like we do.I flip 3-5 houses a year solo for the last 6 yrs.