So, if you need to make a 25% down payment on a $200k property, then you'll need at least $50k (+closing costs).

If you get cat urine in the house, it can cost you 10x the pet fee to mitigate the odor.

Simply put, we start off with the As Repaired/Completed Value (ARV), then subtract from that number a reasonable profit, the rehab cost (scope of work), which we've gotten good at, a contingency reserve for any "unexpecteds", our cost of capital/carrying costs (interest and costs of the leverage used), and our costs/fees on the buy and sell sides of a flip.

I would be cautious buying in the saturated areas because there are so many similarly sized properties that price is becoming increasingly the deciding factor. 

The family viewed the house, loved it, and requested that I install satellite TV and add it to the costs, which I did.

That will cost you lots of donuts and coffee.   

Most my clients do conventional and some creative options for a bit extra financing if needed, saves a lot on fees/financing costs this way.  

Many investors in your situation also explore seller financing or subject-to deals to minimize upfront costs, especially if they find a seller open to creative terms. 

While this can maximize leverage and ROI, challenges include getting lender approval for seller financing, high carrying costs, and the pressure of short-term loans.

Also, the turnover will be much lower, but maintenance costs might shift too, so it's good to plan for that.Happy to connect if you need more tips!