For example: would you want to do 2 flips in a year and make 140K on each for a total of 280K.

@Marc Shin,Totally agree with what Alberto stated above.

My CPA also quoted $350 to send out only 6 1099's total in 2 LLC's.

Your accountant should be able to factor that into your total cost. 

It can totally be done, even in this market.

Most hard money lenders require 10-20% down payment of the purchase price or total project cost.Holding Costs During Rehab: Yes, you'll need to cover carrying costs, including hard money interest, utilities, taxes, and insurance.

I don't remember exactly but it was around $10k total for labor and the 2 new boilers.

There is the options of totally change up what/where your trying to do things. 

I usually provide our budget as well with totals spent. 

For instance, if there was a total of $250K of debt on those properties that woud leave you with $350K of proceeds to use to purchase $600K of real estate.