It is really case by case and your best estimate on the life left on the components of the building.

But sometimes I am limited in what I can do in a flip due to constrained budgets or unexpected expenses that we didn't catch when we originally bought the house.3)Our first 6 flips that we did as soon as the 1st showing happened we were made a offer.

If you were to pursue the deal you should have the property inspected to determine the condition and life expectancy of all major components and appliances.  

When you look at all the expenses, including vacancies, unexpected repairs, etc. will it make you enough that you think it will be a good investment?

However, I know there are always unexpected pitfalls, and there are people on here far more experienced than myself in the realm of investing.

That's a crap shoot, but having a sharp negotiator representing you could pay big dividends.When it comes to offers, they will use mostly of the same components, but terms and conditions will vary by deal because no two deals are exactly alike - especially when it comes to terms and contingencies. 

You need to understand the deeper, emotional component beyond their surface-level goals.2.The power of referralsCurrent investors referring you to their network is a great statement about you and puts you well ahead.

Jami,A cabinet (kitchen or bath) has essentially 4 main components; the frame, the decks / shelves, the facing and the doors.

However, I do agree with you that if you do not have a solid income vacancies and unexpected repairs can be a major issue. 

There were some unexpected issues with the home I didn't count on (new furnace, all new windows, etc.) but it worked out.