@Alex Ng Because I have worked with my contractor for about 20 years now in some form or fashion( he started out shoveling my roof), he usually walks all of the properties I look at on my initial visits and gives me a rough estimate on cost of rehab and a time frame for completion based on his current schedule and how much time he has to devote to the project.

Securities bashing is fashionable right now and I am not saying the bashing is unwarranted.

Certainly, if the single-payer system were implemented in a similar fashion to today's insurance infrastructure, we'd have escalating costs and waste.

I have dozens of BRRRR's in this market and the biggest key to success here is 1 - finding sources that provide consistent deal flow2 - finding a contracting team that is reliable, communicates well, priced well, works in a timely fashion and most importantly has time for YOU.

There are two main lenses to look at this in a preliminary fashion.

Have you made purchases in this fashion before?  

A HP 12C is just a standard financial calculator...Sure, you can use an old fashioned calculator to calculate everything manually, but that process can be very tedious and you can't save your results or create professional investment reports from your data.Real estate analysis apps/spreadsheets are really a dime-a-dozen these days. 

My thought process behind this is by having my policy and procedures written down in an organized fashion I will be able to run my business, well...like a business!  

It turned out they planned to operate a jewelry business out of the apartment and store compressed gas and use oxy-acetylene torches in a 12 unit building.  

Turn off the cable, return the latest iPhone to the store, sell your jewelry, downgrade your car, list useless stuff around your home on ebay, get a roommate, whatever it is, figure out a way.