Flipping profitability in SoCal

[Alex Ng]

Im looking to flip around socal. I was wondering what are peoples average profit margins here? How much are you making per flip? Does the 70% rule apply to here? How competitive is it finding distressed properties ? How should I find the properties? On average, how long does it take to do light, medium, and extensive rehab? I recently read how house flippers get taxed 25% after each flip now. How much did this eat into your profit margins? What are some prices of the houses you have flipped?