Real estate is a slowish game, but getting $200k/year in income can be done in under 10 years.

At this point he's just paying the mortgage on a empty house he never wanted, so I wasn't going to do an official partnership, but I would cut him in on the back end if I come in under budget.Any ideas on profit flippers are expecting on this type of deal locally?

Most investments are 5-7 year plans, so if I give the investor 15% each year that means that they would double their money in under 7 years and at 20% it would double in 5 years.

Figured I could go $500 over ask so if an owner occupied offer comes in under ask they would just wait until my offer can be accepted.  

My first one sold in under a week, and was on by law for another 30 days until the closing (now 45 days) for certain loan types.  

The fastest investors can close in under 10 days with a cash purchase.

It wasn't the idea of financial freedom that drove me, it was the idea of the life I was going to be able to live when I got there... and I got there in under 7 years. 

and it was perhaps a bit awkward as SPAR's goals don't align entirely with a REI's, (not to mention the area has already been inundated by REIs for many years) but nevertheless I think everyone got at least a little bit out of it.

If it wasn't a rehab certain lenders could close a conventional loan in under 30 days.I would encourage you to NOT think of a Hard Money Loan as a "bridge loan".  

@Brad Woodall moving pretty quick closing out almost 5 deals in under a year. with my lack of experience I'll be a snail in the market for now.