Closing costs, insurance, property taxes etc will eat up $5k.

And guess what else kept with the prices - the real estate taxes, which are also sky rocketing, eating more in your cash flow every year.

You are going to eat some costs and spend more than you budgeted for.

I may not have real estate experience but am willing to help anyway I can may it be even the best bbq place to eat at if your in Memphis.  

I do wish I had some insight onto the market on Oahu, but I was pretty much eating Ramen and sitting in the field or deployed so not much help.It may help others if you have the fees associated and property management fees so they can calculate.

At one point i was making 50% less rent on houses than when i was renting them in 2006, so it truly hurt my pockets and for many years i was eating thousands of dollars with them all rented out getting the most i could for them at the time.

I honestly would rather skip wholesaling but I’m still working on positioning myself for meeting the lending criteria and having a decent nest egg to finance the rehab. 

Houseflies can lay eggs on food sitting out or even in the drain of a sink, when the maggots hatch you'll have a swarm of flies on your window. 

one day, but for now am just focused on creating as large a nest egg as possible.I found Bigger Pockets through the podcast (I think looking for investment related podcasts), and that led me to the site.

She will carry back a note for the rest, payable after sale.This is the structure of the loan with the repair cost embedded within the loan, which I can now modify.Fix N Flip - HML @ 65K - 6 Months (Worst case 12 months)Expenses Buying Costs (2350) Appraisal (450)Home Inspection (500)Title Insurance (600)Title Company (800)Holding Costs (3000) Taxes (477)Insurance (500)Utilities (1800)Financing Costs on 65K Loan, eats up my 10K (5000 Cost - 10K tied up) 6500 DP (Equity I get back at closing)3900 in interest (closing fees)1000 misc (at closing)2600 in reserveSelling Costs - (16800) Realtor (15.500)Title Company (800)Appraisal (500)Attorney (500)Repair Costs - 25K (lumped into loan, deducted from .75 percent ARV)Total Expenses = BC (2300) + HC (3000) + FC (15000) +SC (17K) + RC (25K) = 62300Loan Cost - 10K available for DP and Reserves = Max HML Loan of 65K Loan @ 65K - 6.5K DP = 58.5K - 34250 = 24250 as Down payment to Glenda Loan Interest (3900) (Points embedded into interest)10% Down Payment (6500)Holding Costs (3000)Buying Costs (2350)Repair Costs (25K)Downpayment to Seller (24250) Owner Finance the restLoan @ 65K - 3900 - 6500 - 3000 - 2350 - 25K - 24250 = 0Scenario 1 - Even Split of Profit,  Loan with Realtor ExpensesTotal Expenses = 127K Purchase Price + (BC (2300) + HC (3000) + FC (15000) +SC (17K) + RC (25K) = 62300 DP) = 189,000Net Profit = 225,000 - 189,000 = 36K - 10K* = 26KSeller Profit = 127,000 - 100,000 - 26K*My cost out of pocket needs to be deducted from Sale to reach profit!.