It would not be a terribly profitable industry, and a few large players (hopefully including my NewCo) would dominate the space.

-Her split is 30% of profits whereas others are 20-25%-She requires a $500 "technology fee", but it's only a $30 amazon key-pad deadbolt.

Equity paydown and modest appreciation would result in a small profit; not enough to justify a non passive investment but i will own a killer cabin.  

Traditionally I have sold the builder land and loaned him the money to buy the land and build the house with us splitting up the profits when it sold. 

We back into the "strike price", meaning the maximum price we're willing to pay for a property, by starting with a conservative ARV and then backing off our required profit, the rehab cost, the time value of money (carrying costs and interest), and a contingency reserve for unexpected expenses.

If she pays, then your really out of luck and you have to sue her in court for breaking the lease and damages.In general, I don't take people to court once I have the property back as the attorney fees and the fact you RARELY collect on any judgements (15% of the time or less) eats any profit and wastes your time.

They cannot arbitrarily make wild gambles because they feel like it - they have to operate within established risk parameters that are approved by several regulatory bodies and internal controls.

Fast forward three years: He’s moved out, and the property now nets him close to $1,200 a month in profit after expenses.

That's not a "net profit" of $550/month because you haven't accounted for vacancy, maintenance, capex, or other expenses.

Am I being dumb by NOT waiting, because it’s unlikely - I assume - my next deal will be as profitable (I got very lucky on this one!)