Consider tertiary markets w/ less competition, just realize that your DOM will likely be longer upon conclusion of the flip.

I don't do it to purposely lose money.As far as "do I invest for a percentage of the flip" - since it's my own money, I have the flexibility of evaluating each deal on its own merits, and drawing my own conclusions.  

Yes, I did this the very 1st time I had to find a PM because I didn't know how else to come to a conclusion other than my gut feeling. 

Commercial properties will likely pay a lot more in property taxes than residential properties.Here's the article: http://chicago.suntimes.com/news/7/71/943156/500-million-property-tax-hike-enough-shed-chicagos-junk-bond-rating-analysts-warn“Fabian’s conclusion was that, as tough as it will be for homeowners and their aldermen to swallow a $500 million property tax increase, Mayor Rahm Emanuel and the City Council need to bite the bullet even harder.

So I just listened to @Brandon Turner speak on "The One Thing" on the Ask BP podcast...great (yet very simple) concept and podcast episode by the way, be sure to check it out....and it led me to the conclusion that I need to figure out what I need to get in line so that I can: 1) connect with a local commercial real estate banker here in Houston to discuss funding for multi-family/apartment investments, and 2) understand what it is that the commercial lender would be looking for in terms of sort of pre-qualifying my partner and I for funding.

The obvious conclusion is, 'Hard work and taking it easy give you the same result in the end, so why should I kill myself."  

In the midst of my present mission of building my own rolodex of private lenders(see my other post in the private lending forum), I've come to the conclusion that having lenders, whom are already lending now AND can close as fast as humanly possible, is going to make a great addition to my RE investing business.

Take the situation to its hypothetical worst conclusion: the former tenants sue you for their security deposit.

I have probably below average drywall finishing skills and as a result, I have walls that could look a bit better.My conclusion is this:  If the wall paper peels off very easily and in very large sheets after soaking it down, then just proceed to do it that way. 

So if both those numbers are valid guidelines that means that you start with very few capex expense when the house is fully rehabilitated and you finish with more than 30% after 20 years, which seems not bearable.The conclusion I make from those numbers is that the buy and hold long term strategy is not valid, it seems better to buy rehabilitated houses and sell them after 10 years.Does I am wrong somewhere ?