I am going to be meeting with a real estate agent to look at some distressed properties and want to know if anyone has tips about how to estimate the cost to repair any damages to the property in order to figure out if the property is worth the investment.

You will lose money if you try to flip it assuming the repair numbers are accurate.

I think this is pretty conservative in case I run into the high turnover and major repairs which are sometimes more common in these types of rentals.I also believe buying properties at such low purchase prices allow newbies (like me) to learn and make mistakes without taking huge risks.

The extra money it would cost when it's time for repairs is just not worth it!

If the landlord won't make repairs necessary to make the home habitable you probably need to contact your housing agency that your voucher is through and tell them about your issues and see if they will reinspect.

Maintenance records, repairs, appliance records, leases, invoices, bills... everything related to the properties.

I've got 2 large redwood decks I plan on repairing and sanding first, then staining but this is a first for me..Thanks!

How much would you keep in reserve for things vacancies, unexpected repairs and expenses?

The rest is going into a savings account to for future repairs and vacancies and we take a disbursement as wanted.We did a cash out refi a few months ago.

*After Repair value X 70%, minus repairs = maximum offer.