Prices have gone very high and the appreciation wave already happened--versus other markets that are more infant in their growth cycles.

@Dawn BrenengenMy good friend @Jay Hinrichs, was speaking in Hyperbole ( a small village in up state)For the record Ohio has a population of 11,613,423, counting Lebron, and 5,156,307 housing units counting Lebron's.And Michigan has 9,922,576 population and 4,532,333 housing units.In both states the number of people versus houses is about 2:1Source: US Census Bureau

I'll make a list of expenses I think I will encounter.Purchase - 65000Rent-  650Taxes monthly - 105Insurance monthly- 62Vacancy 5% - 32Repair 5% - 32Mortgage - 278All that puts me at 509 expenses versus 650 rent to be at 141 cash flow monthly.I have calculated the CoCR a couple different ways because I am certain that the house is rent ready now but I also figured it with some rehab expenses just in case I find something.141x12= 16921692/16000(down payment plus closing)= 10.5% CoCR1692/18000(down payment, closing, and 2k rehab) = 9.4%Like I said before 650 seems like the safe route for potential rent.

@Julie Marquez I think the whole 15 vs 30 year mortgage argument is similar to the Roth 401k versus Traditional 401k one...

You may end up working for minimum wage.If this were a buy n hold you could leverage the risk over a longer potential profit of cash flow but as a flip your profit is all determined at the sell and the profit will be taxed (versus a buy and hold profit when taken via a refinance is not taxed).Good luck

I will definitely look into the pros and cons of contract versus on call jobs in my area.  33 years is definitely a lot of experience.

Another issue in this market is when you are in competition putting nothing down versus someone who is putting money down or paying cash, someone using a VA loan will probably lose out on that deal. 

In the description of the property you are searching for they can list an address versus a property description (3 bedroom 2 bath etc.).

If you finance a deal your looking at Cash on Cash (CoC) of what you have in it versus what the total cash flow is. 

I would consider how much time it would take to meet a good partner versus get a check for a wholesale.