Purchase price: $271,000 Cash invested: $30,000 Duplex with 1 bed, 1 bath in each unit + 3 car garage in a great neighborhood.

I’m looking for some advice on a fix/flip property that I purchased with two friends almost two years ago.

Too many newbies seem to think they can blindly follow "old" advice in today's real estate market and be successful.Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.What many newbies have figured out is that they can't make the numbers work on rental purchases in their states - like California, Arizona, New York, New Jersey, Washington, etc.What they have NOT figured out is that if they go to cheaper markets, they aren't being shown Class A rentals to buy.

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 The property is a 2 bed 2 bath with a den and a 1 car garage.

We purchased the house about 3 months ago and are owner financing it.

If you're looking at a debt service loan, 15% is the minimum for a purchase but it's much more common (and rates are better) at 20-25%. 

Now days you don't buy a deal you make the deal either with how you operate the property, how you finance the property, or how you purchase the property.

Where the SBA 7A can be used for all parts of the purchase and is generally Prime+ 2%, 10 years, the 504 (bricks & mortar only) is generally Prime -2%, 25 years. 

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

You can purchase a primary home with seller financing, then rent out the spare rooms to generate income.