OfflineAll,
I purchased an "RS Means Residential Repair & Remodeling Costs / 2011 Contractor's Pricing Guide" from Lowe's for $39.95. It is the most comprehensive book of it's kind and is a must-have for those of us who want to have accurate rehab #'s! If you have access to the property, use your tape measure and get accurate Sq. Footage #'s and the book will take care of the rest! It even has a "Location Factor" to determine the Multiple of the specific location (Zip Code) you are in.
The great thing is that this book, if used correctly, gives you "wiggle room" because of the fact that you more than likely, through local knowledge, contacts or existing contractors, will be able to get the work done (or DIY) MUCH cheaper. However, I found last week that NOTHING impresses Banks, investors, or even sellers by having exact numbers for every item in the home. The bank that I just locked up my first REO with asked me to look at 4 of their other properties because I had an itemized, professional Rehab Report included with my offer!!!
I will download my Rehab Evaluation Report soon (having trouble attaching for some reason!) and hope that this info helps those of you who may not be construction gurus...but are great investors (I hope to be both!!! 
Go Get Em!!!
Jon A. Lubin
Investment Properties Group L.L.C.
Birmingham, Al.
www.connectedinvestors.com/investmentpropertiesgroup
"You Miss 100% of the Shots You Don't Take" Wayne Gretsky
I'll be watching for it. Thanks. peace,
Dana w/ Crossroads Solutions LLC
http://www.DanaLeigh209.com
http://www.DanaLeigh209.net
http://www.ULostThis.com
---
I am direct to the VP of a $100 million dollar open-ended debt and equity fund which actively writes checks to fund businesses with an EBITDA of at least $1 million a year. We fund also have access to up to $500,000,000 for the purchase of distressed real estate, specially commercial $7,500,000 and up.
Wish banks here in Fl. would factor that into the numbers ...
you can download online at rsmeans.com
we've used it for estimates for contract change orders on state transportation projects in construction- it is pretty awesome...
wishing everyone success,
valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
As I am working through deals 2,3,4,5...I am finding that the first one was the most difficult. Of course, having to figure the exact nature of what I wanted was a little tedious at first...but now that I have the numbers, I am confident that I am creating a 16-20% "cushion" using this method. If I can sell the deal using the rehab number I get from this...then I feel that unless the roof caves in while we are working, then I should be prepared for most anything.
Have a good one!
Jon
Jon A. Lubin
Investment Properties Group L.L.C.
Birmingham, Al.
www.connectedinvestors.com/investmentpropertiesgroup
"You Miss 100% of the Shots You Don't Take" Wayne Gretsky