.#2 Explore Lowes and Home Depot to Learn About Material PricingTake a tour through Lowes and Home Depot (or their websites) and look at finishes materials and fixtures that you will consider using in your rehab projects.

I would run numbers as is and then run numbers with what you hope rents, taxes, etc, will be 12 months from now and use that as a projected goal.

@Ryan Myers, without knowing more about you or your project specifically I can't make very specific advice.

Hope that helps you make you decision, good luck with the project!

  $50K in holding costs for this project is a better estimate.Closing costs are often closer to 10% and you calculated your 7% on the buy price of 600K.

Should I issue my contractor a 1099 for each draw he receives or should I issue a single 1099 at the end of the project? 

We typically employ a week-long trial period during which we'll give them a single project (e.g., making 10 seller calls, or posting 3 houses for sale on Craigslist).We make sure to provide detailed instructions and give them crystal-clarity on what successful completion looks like, and then we turn them loose.At the end of the week, we'll assess their performance.

These can both be analyzed on the front end with projected number when looking at a deal and give insight as to how long you want to hold the investment then assessed on an ongoing basis to compare against your original analysis and current market conditions.Hope this helped!

I would love to give my time on the weekend to help out on any projects that are currently going on in the DFW.

It's critically important that you examine the underwriting and assumptions made in arriving at any particular performance projection to see if the projections make sense and are reasonably achievable.