The problem is that the public is now educated on what is a cosmetic flip and what is a true renovation, so the cosmetic "lipstick on pig" flips sit vacant while the truly renovated homes in the $150K range sell in under 4 days for ask+.So, 20% margin, less partner cut of 50% and tax/close cost of 50% leave 5% margin for flips.

I am mostly looking toward class B rentals.I am trying to find this with around 150K price range, which areas in Baltimore county would be good to start with?

I checked on Zillow and they estimate the house is worth ~$202k, which is a little out of our price range (assuming we'll need to put 20% down).  

In my area these are roughly going for 180k to 200k from what I have seen and they cash flow really well, a two bedroom in this area ranges from $800-$1200 depending on the area so your talking about 3-4 k gross if they are all rented.

Inbox me you're contact info, price range and any other helpful info.Thanks,Lisa

Today the doorbell rang at BiggerPockets Headquarters, and in walked a woman who set up a Taco Bar, courtesy of @Darren Sager .Best.

Estimates from contractors range from 150k-200k for everything.

They are currently borrowing in the low 4% range.  

The terms of that second lien may not be all that great though, probably 5 year and interest rates in the 6-10% range. 

Lost in the range of 40k, plus time and opportunity cost.