Every flip we do, there is something unexpected that happens, this usually costs money.Most HML these days want 10% in the deal.

I'm trying not to be discouraged...And I certainly don't want to jump just because it seems like a good deal...I think the part of my equation that I'm not factoring in is this:If I get the home at the rate I hope (60k) and I borrow 80k that will leave 20k in reserve.10k I will keep untouched for unexpected things.

lol :oops: Hey don't feel bad it happens to the best of us in real estate always expect the unexpected it's an unpredictable game.That is why homeowners and investors always have to work hard to stay one step ahead.

Finally, out of my own misfortune (a car accident), I am now financially able to make my move.I ask myself, will I feel the same way about flipping houses (what I want to do), as I do about my web development?

I have an umbrella policy to cover me personally (accidents, collapsing porch etc) with my RE investments, would my personal policy be able to cover me in a suite rising from RE in an IRA?

I want to make sure I am allocating enough for that unexpected expense.

I thought other details might have been left out accidently.

My plan is this will be my 'start retirement' property :-) I am going to do my standard 25 year amortization loan in case I run into any unexpected things along the way, but use the projected cash flow on this property to apply all of that to paying down the mortgage early.

My GC finally calls me; his son was in a very bad car accident (he is OK), hence why he was out of pocket.

Anyone know of anything unexpected that I might run across In a new construction duplex(VA purchased) that would make property management a necessity?