I was planning on using the funds from the HML to renovate.I see what you mean about the slim margin, but I greatly exaggerated the numbers in my renovation estimates, to try to make sure to be conservative.

If you see that several appraisals all estimate that an additional bedroom has a $15K value swing or a garage is $20k you can start honing in on some loose numbers.  

This makes it very difficult to analyze properties with potential because I can’t accurately estimate how much money I would need to put into a property compared to how much I could get out.

I'm looking for systems and education on estimating repair costs so that I can put together accurate budgets, timelines, costs, etc. 

Hil - I'm asking for photos for both property inspections and damage estimates (and repairs).

As the estimates starting flowing in for the triplex, though, I knew the chances of being able to afford a renovation on the Victorian were slim.

Had a contractor walk the properties to provide line item estimates.

I use either 2 or 3% as an estimation.

If you know the area well, you may be able to come up with estimates for income and expenses based upon current rents and expenses for the area.  

House is being remodeled and will be sold upon remodel completion for an estimated $40k-$60k profit.