I have multiple portfolio loans with a small local bank that they keep in house and do not resell.

Here are the details:Beds: 3 BedBaths: 2 Full BathHouse Size: 1,634 Sq FtProperty Type: Single Family HomeYear Built: 1964List Price: $39,500 Plan going in - #1 - Buy & Hold #2 - Resell for profit #3 - Lease option FARV (Fast Sell After Repair Value) $110,000 Going to offer $25,000, looking to get it for $30,000 Estimating $40,000 in repairs (roof, siding, HVAC etc)Total project cost $70,000Down payment $21,000 (30%) Expected Rents $900 (Based on numbers from Zilpsy, Rentometer, Zillow and test Craigslist ads) Breakdown of monthly expenses - Total operating expenses: $380.00 Mortgage expenses: $278.22 Repairs: $90.00 CapEx: $90.00 Insurance: $60.00 Management: $90.00 Monthly P&I: $278.22 Property Taxes: $50.00 Total Monthly Income:$900.00 x50% for Expenses: $450.00 Monthly Payment/Interest Payment: $278.22 Total Monthly Cashflow using 50% Rule: $171.78 Looks like almost a 9% Cap Rate, and 12% ROI.

Are you going to bird dog, close out deals yourself and resell them or what?

I have always fancied buying houses to renovate and then re-sell (obviously at a profit :).

Since I was young I have wanted to renovate and re-sell homes (before it had a fun name like "flipping" and turned into the cool thing to do, thanks to HGTV), and at this point in my life/career I have decided to go ahead and make the jump into the investing world.

If you take title to the property before you resell it, it will become a comp for your resale, and it's unlikely to appraise for much higher if you don't do any significant rehab.  

As an agent, I wouldn't get involved in L/O's, particularly if you were sandwiching them, reselling, etc. 

If you buy sub2, and resell with owner(you) financing...what do you do if the bank calls the loan due?

Currently, I manage my own reselling business.

Once the house is paid for, I plan to re-sell it at about $32,000 to another investor and use that to repay the loan.