If you stick with what's common on figuring a rehab then simply take your ARV x .65-.70 = {amount} then subtract your repairs, then subtract what you want to make on the deal.  

Either way, it doesn't sound like the wholesale deal they are offering you is much of a deal, and that seems to be a common problem with wholesalers. 

Is that something that is common or just common in your area?

Sell to a rehab investor in its as is condition and get out, stop the bleeding, and salvage what you have left.Regardless of which option you choose (and one or both may not be options if your numbers are bad), this is a prime example of a very common mistake.

It is very common for homes in San Antonio to have converted garages or additions that weren't permitted or recorded with the Bexar County Appraisal District (BCAD).  

We'd love advice on how best to get started and the common pitfalls to avoid.  

This is a great website, the only thing that everyone have in common is that everyone invests in real estate.

Then we put the property out on the market & see what comes back.But using a bit of common sense will get you far.

But I've been told this err is actually quite common, so I've decided to do my best to take advantage of the peculiar opportunity.

I think I have it all figured out, as I have found that she reduced my usable sq/ft by 500 to account for my common areas, but did not do this for the comps, thereby producing an inaccurate price per sq/ft.