Hi all, new here at the forum and thank you all for all the knowledge you guys share…its amazing.I am interested in this question as well as we just got back into this from like 10 years ago, few things have changed for us, and the main one is finding deals with whole sellers, sometimes the price looks good, but once we add numbers we are currently seeing that everyone else in the deal makes tons of more money than us….for instance, we have checked properties now, where we pay closing cost, interest on a portion of the borrowed money, commissions after selling the property, etc and we see 30-40k going out on all of this,  then we barely make a 20k profit or less on a property of 200k …many of the deal we found we barely get close to a 10-15% of the initial purchased price, which to me sounds like a lot of hassle and my wife says that i am getting old and too picky :)i keep saying that ideally we should shoot for 15-25% profit from the purchase price…if i get a property at 200k and the rehab is 50 and everyone else makes 30k then we should at least net out 30k as well.

That way I only learn the lesson one time. 

We require any tenant 18 or older to qualify for whole rent on their own unless they are a legal dependent (spouse, college student, dependent parent, etc) of applicant, even then must pass criminal background check.

Lesson learned don't go in business with an x drug addict.

Hyperlink to listing belowhttps://www.offermarket.us/listings/528-College-St-N-Madisonville-TN-37354-USA What made you interested in investing in this type of deal?

Presumably my gain will be much (less) on the second sell transaction in CA.Are there any regulations on how long I must hold my 'new' CA property before selling it (and going out of state) to avoid CA taxes on first transaction? 

I'm seeing listings for $500k - $650k all over Providence (outside of College Hill) for properties with 2 units.

It never had quite the same vibe, but by that time, I had changed, too, and my focus was less on real estate and more on business.

They are young, still in college one more year with minimal income.  

Lessons learned?