There are always unexpected delays.

The only reason I say this is because even if you base your profit based on the MOST conservative numbers, there are always some sort of unexpected incidents that will arise throughout the process, and there needs to be some sort of reserve capital set aside for that.

I then called an electrician and he advised me over the phone that with all the recent rain, it was probably just a GFCI outlet that needed to be reset (it's a button on the outlets in the wet areas of the house). 

Real estate is risky (despite what you might hear) There are lots of hidden and unexpected costs.

Mostly cosmetic enhancements were made on the property.New bathroom vinyl flooringNew ToiletNew Ceiling fanPainted old kitchen cabinets bright white with new Hardware handles.Installed RefrigeratorAdded Blinds Replaced all wall outlet coversReplaced upstairs unit Sink faucet with new modern hook faucetWhat was the outcome?

@Nick Rutkowski in our contractor biz we provide an estimate with a few thousand for unexpected expenses.

@Michelle Shriver Glad you got it figured out! Let

Still things come up that are unexpected but at least you're just focusing on the surprises at that point rather than the whole process. 

I am also not planning on adding any electrical outlets on that wall.My question is, do I need a permit to do so, the work is fairly easy and I can do it my self.

Then depending on the increase an exit strategy my come at an unexpected time.