Most were built in 2004/05 and still outdated with original laminate counters and 12" tile, while savvy ones have updated and themed out the rooms and converted garages into game rooms.

The property had old dirty carpet, peel and stick tile in the kitchen, dated bathrooms and laminate countertops.

Same can be done with water damage-pull up the tiles, dry things out and lay them again.

This will help you get a better idea of what tile, hardwood, carpet, plumbing fixtures and light fixtures costs for your rehabs.#3 Contact Local Contractors for PricingCall local Subcontractors and get budget pricing for common repairs on your typical rehab project.For example, call a roofer and ask what their average cost per Square of Architectural Asphalt Shingle Roofing would be on a 1,500 sf house, with a 6/12 pitch.Note: Some contractors will be reluctant to share pricing without seeing the property, but tell them you are just looking for a rough budget number you can use on future projects.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.

As title states - I recently bought a triplex and noticed some cracking in tile in both an upstairs bathroom and kitchen.

We also made some improvements such as tile work in part of the house.

You can save groups of items, for example a typical bathroom's worth of materials...vanity, plumbing, tile, fixtures, lighting, etc., and re-use them as a starting point for another project.You separately determine your overhead, profit, and hourly rates for your employees/contractors, and easily become consistent with your estimates for similar properties.You do need to have a reasonably good fundamental knowledge of construction and materials, but you can also grow into it.

Updating is as follows: Flooring is new wood(living room and 2nd bedroom), carpet (stairs and master bedroom), and ceramic tile (entry, kitchen, and master bath).

The title company was a smaller regional operation but the tile insurance policy is with Chicago so I am going to submit a formal claim with Chicago on Monday if there the is no progress.

Keep in mind most contractors have terms with their suppliers.