However, right now, I am a team of one (plus an agent and am working on nailing down hard money lending options, a CPA, and attorney).I am looking for realistic projections for:  Net income per flip my first and second years  How long each flip will take the first and second years  Time investment required first year and second year- Background & Education: I'm a high school science and engineering teacher.

@Anita Fulton that is a huge valuation on a home in the Houston area and at that price point it is really tough to nail down an exact value, are there any comps in your neighborhood? 

@Hayden Smith Ronan hit the nail on the head. 

Gorilla Glue and maybe some small finishing nails, Or some screws from the inside of the cabinet into the dummy drawer.

Eric M. hit the nail on the head. 

I also have friends banking on the 10-year forgiveness plan that the current administration is fighting tooth and nail to eliminate.

@Kevin Romines already hit the nail on the head for your specific question, but in general: friends don't let friends use rocket ships to get mortgages.

I think you hit the nail on the head there and have given the answer that most investors would give. $56/mo is definitely not enough cash flow, especially if it involves rehab and a refinance.

It hasn't happened yet, but at 59 yo I don't want to get nailed on gains.My QI always sends me the Instructions for Direct Deeding, Assignment of Agreement/Contract: To Buy and Sell Real Estate,  and Instructions for Tax Deferred Exchange. 

I think a big component that you can & need to nail down is cost of constructing on a site with plenty of granite.