I just read an article recently that noted "Avg Profits For Flipped Homes" of $80,000, however when you dig into the article and their sources, "Profit" is simply Sale Price - Purchase Price...so it doesn't consider renovation costs, holding costs, financing costs, etc.

This was a pretty interesting read.

The seller was not in the wrong by saying "no" to the water damage question on the RPOADS form.You can read more about this topic here: https://www.ncrealtors.org/question/can-property-damage-be-a...When things get tricky is when a seller marks "no representation" on the RPOADS form about an issue.

Institutional lenders will look at your non/short employement as a negative. 

I had never heard or read that one before so I'm not sure where it comes from.

At some point, if your business takes off, the single member LLC gives you optionality to move to an S Corp (which typically means less self employment taxes). 

And what your prior occupation was/is  do you have monthly retirement pay from a W 2.Or are you self employed your whole life and the only one that is going to help you in retirement is yourself.. ??? 

Just make sure to read the management agreement carefully, the monthly % isn't the only cost to consider!

Just read under Occupancy: https://www.benefits.va.gov/WARMS/docs/admin26/handbook/Chap...All the VA says is that you must intend to occupy the property within 60 days, and there are even exceptions to that.

I will be serving a 10 day notice of non-payment of rent and read partial payments could be accepted without waiving right to terminate if the agreement is made in writing.