There needs are pretty basic, a place shower, do laundry, cook food, drink beer and sleep. 

I find architects to be relatively in expensive when its basic as-is layouts with a slight design change.

The rehabs are as basic as the minimum inspection requirements demand so costs are pretty low on the front. 

Rule of thumb for accounting, bookkeeping, reporting ..Loans are Liability (Balance Sheet)Purchase of property (Balance Sheet) - watch out for expenses that can be deducted for rental properties ( that is why you need to speak to an accountant)Sale of property (Profit & Loss)Transfer all money from Balance Sheet to Profit & LossFollow the HUD to double check the balances and make adjustmentsMoney Spend:FlipRehab (Balance Sheet)RentalMaintain properties (Profit & Loss)Capital Improvements (Balance Sheet)Of course there are more steps - this are very basic. As

In that quantification, he will be calculating his return, even if basic as Net Profit/Total Investment.

Hi John,Have you thought about 2 separate systems made up of non-fancy basic equipment.2 Basic furnaces,  2 basic A/C's, 2 basic thermostats.Also have you thought about separate electric meters, water meters (and water heaters) and gas meters--that's a nice setup.Does your zoning allow this (meaning is it zoned for a duplex or are you (flying under the radar))Because pulling permits for non-zoned stuff (???)

The first section is pretty basic as he's intorducting what wholesaling is assignment fee, identifying and finding a motivated seller, drive for dollars, etc; the next sections it'll be more on contracts, starting a LLC, etc.Hopefully this helps and keep you from spending $5-6k!

Really basic!As

Something as basic as the back end Realtor commissions can change your model.  

I have to mention to him to go back to basic as he told me that it is normal that he talks directly to lender attorney.