. $10 for my time, money,and effort in this deal so this was totally unexpected and to be fair I think I should get my $10 and then we should split the bonus $90 equally, does that sound fair to you? 

I'm no expert rehabber, but from my experience in repairing my own rentals, I'd be concerned with unexpected things once digging into an old house.

Use the BP calculator and include vacancy rates, costs for PM, unexpected fixes which might be costly since you would have to hire contractors, and the unexpected issues of just not being close.

Some details:Purchase: $45,000Rehab: $40,000 (This includes 15% unexpected cost)ARV: $150,000Annual Taxes: $4,000Rehab is scheduled to be 8 weeks, which includes kitchen, bathroom, add powder room, build deck, finish basement, refinish floors, paint, landscaping and a few other items.

So, that only leaves about $20,000 for profit AND expenses, which is usually too low for a flipper because you could easily eat up $10,000 on unexpected rehab costs.  

A property manager who also owns their own inventory would be my choice, and most would probably be delighted to guide you through the acquisition process, if they scored the management contract at the end of the day.

But rentals do have their downsides - big capex, bad tenants, and local market factors can all affect returns in an unexpected way.

@David Jasinski, you're very welcome and I'm delighted to hear that.

Experienced investors know how critical reserve funds are when the unexpected happens. 

You may get excited, but make sure that you have some reserves for those unexpected situations that inevitably crop up.