Sometimes it works, sometimes it might not, the owner decided to spend a few thousand to argue even if chances are slim, good he did, saved him almost 6 figures.I couldn't give advice on your experience as the project is too small.

Too slim for me, but he's trying to make up for it in volume. 

Immediately I could see that the margins were too slim to be worth it, but I went through the entire exercise as a matter of brain-training.

Chances of you getting approval for an assignment are slim to none.

The deal seems pretty slim IMO. 

My research is pretty amateurish, but after reading the first few chapters of JScott's book, I put together a spreadsheet with a recently sold distressed property and four comps (super easy in this case, 3 were model matches within a couple blocks), and it seemed clear to me that the investor had only a slim margin between his purchase price and ARV (bought for 200k, 250 ARV).

It took me a good 6 months to find the deal I'm working on now and my margins are pretty slim.

There is a very slim chance that I could get to Colorado Springs for my last 12 months, which would be great, but we probably won't stay there much past those 12 months if it does happen.

If market value is 99k and you are buying for 93k and the place needs upgrades it seems like a slim deal.

If they are an experienced flipper who says $30-40K, that means a whole lot more than someone who is just guessing.If they are just pulling numbers out of thin air, and your margin is slim to begin with, it is very easy to go over budget (in fact, bet on going over budget on your first flip) and erase all your profits.But therein lies the catch.