Understand you have great equity position but it is expensive, but more importantly  takes a lot of time and very distracting from other money making activities to foreclose.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

According to Tom Cruz hereafter referred to as DB, I wasted 31 years of my life training to become an ortho surgeon but the DB doesn't understand some people enjoy their jobs and are passionate about helping other people. 

.: I am trying to learn and understand... someone told me that its not just size of the home or level of the flip that determines profit, and that in some markets, what is considered a typical profit is 300k based on the 70% ARV formula.

This is something I have been trying to understand. 

If you don't have an agent...well...nothing is a problem until it's a problem but our advice and opinions are meaningless if you actually need to use your insurance.It's vitally important that you understand exactly what you have before you need it. 

they said around 90% of market value.I tried to get them to understand that this property needs a LOT of work, almost a full gut, some holes in walls (small) old carpet needs to be ripped up, i mean like the works on this thing, you can prob get away with touching up the kitchen since its real hardwood and the bathrooms as well but this prop needs at least 80k.Found out owner actually owes 140k on property, and zillow is zestimating it to be 127k.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

It looks like I’m going against the grain with out of state flips but still want to understand the full picture.So in your opinion how should I find my rock star contractor?