I did estimate 10% for CapEx ($10,000/yr) 7% for general maintenance/repairs ($7,000/yr), $2,000/yr for snow/lawn care and all tenants are currently responsible for trash disposal as their leases state.

You have to get better at estimating the rehab yourself, @Anthony Espinal.

If you wait to long, you might have missed a small window to salvage the project.Here are some red flags for bad contractors courtesy of the Asset Based Lending Blog (abl1.net)They don’t want to sign an independent contractor agreement.They resist getting specific with milestones and deadlines.They resist giving you referrals or allowing you to visit a current work site.They may hedge on pricing and estimates.

Why would a foreclosed home that is assumed by a bank be listed for 50% less than the estimated price?

They estimated it would take 9 weeks.

Her and her husband used to own a construction company and so she adds a ton of value in estimating remodel. 

Currently Zillow estimates 650, Redfin estimates 570.

Given the rate environment (I am at 4.25% for 30 yr fixed jumbo $695k remaining with estimated house value around $1.15m) I am interested in in doing a cash out refinance.  

Hey @Allison Meggison,Rule #1, always take the seller's estimate with a grain of salt!

I like that conventional loans let you factor in the estimated rent into your approval decision but starting out I can't afford 15% down payments.