When to walk away from a fix up and flip opportunity

[Chris Pflum]

I've got a project I was getting ready to close on and decided to walk away.  Over the past couple weeks, there have been numerous surprises, from mis-stated property description to surprise closing fees, that have added up to made this deal unpalatable to me.  As a result, I'll be out the sunk expenses of ernst deposit and appraisal,  but I'll also avoid getting stuck with what has turned out to be a risky project.

Just curious what others have done in this situation.  Is there a mininum profit you need before proceeding further? How much expense are you willing to walk away from in order to not get stuck with something?