You're going to need 15-20 duplexes that are considered good deals to get to that kind of profit.

For tax purposes, the profit is calculated as the sale price minus the cost basis (purchase price + renovations + transaction costs).

Double check on permits if the previous owners has done a remodel.Do not rely on agents representation.Do not work with a dual agency as a buyer, the agents first commitment is to the sellers.Allow at least a year of seasoning before determining the profits of an investment.Happy to share.

Even if the property were to sell it $180,000 that's a lot of risk for 30 K of profit.

I manage the property and the tenants, pay the owner of the property a rent that meets their mortgage plus a little profit, charge fair market rent from the tenants I sublet to, and exercise an option to buy the property after a predefined term and at a predefined price.This way tired landlords don't have to manage their property anymore, and I start investing with little to no money.

All cash costs, and negative CF is a loss, must be recovered before you can make a profit. 

A free property is great... but if you find a deal good enough to BRRR (which can prove challenging) take that profit and invest it into a revenue generating activity.

As I've experienced in my own career, selecting a broker with a proven history of successful transactions ensures a smoother and more profitable sale.

That is $5,400 or so per month so $1,600 profit.

Partnering with Billy Medlen, we saw the opportunity to create a win-win situation by transforming the property and delivering a strong profit.