I am an investor in the estate of Texas and to me this is one of the best places to buy and hold and flip.Many investors will fail in this business due to not having different options to offload the properties if not sold (We call it a parachute), we actually shaped our business to rent most of the properties we flip and if we sell them is a bonus.

Unless your in a market like the Bay area were you pay 1.5 mil for the lot and build a nice spec for 200 a foot say 3k feet for 600k  and have 2.1 in it and sell for 2.9  which is common the 15% of project cost work.but if your in a market were lot is 100k   build is 200k and end product say is 350k.. and you pay 30k to the builder that is far to much by double.we hire for flat fee if we are financing the whole job and they are simply acting as GC and have no monetary involvement.  10 to 15k a door. is what we pay.. and if we are so inclined there can be a bonus if we do real well.hope that helps.. careful to tag your jobs to % of gross construction costs you may not like were you end up.

Any way I have no dog in the hunt but I do ( as a veteran HML in my own right) agree with Account Closed if you can get your principal back great and some interest  that's a huge bonus..

I negotiated the price down from $100,000 to $80,000-which was generous.  

I wouldn’t mind flipping some properties in between, but that would be just a bonus if I can and not really part of my long term strategy.

It's a stand alone 900 sqft 1 bed 1 bath plus a bonus room unit to become vacant at the end of the month.

Thanks for the offer, very generous to share your time.

Being generous with a 5% interest rate and 20 year amort, I get $1039/mo or $12.4K per year, not the $8700 you mention.  

Not sure if you're being generous with your monthly expenses (vacancy, cap ex?)

Like in my situation I got great credit as I handle my money well which is a bonus for the seller but I don't have much cash which would work in my favor.