We did a couple recent ones that were on market, fixed them up and got them to market after the remodel with a profit.

If you have a larger portfolio, are you still self managing?

Now we're seeing major disasters in densely populated areas and insurance companies can't maintain their profit margins.

I am looking for recommendations for best financing options.The owner is considering financing it, but until they agree, I am planning as if they will not do so.The local credit union I use, who is very investor friendly, is unable to lend on properties larger than 4 units right now. 

This would allow you to indefinitely defer the tax on the property and use it to purchase larger property/properties in a nicer appreciating area.

The problem is that your debt payments are going to basically wipe out that $400K profit unless there is room to increase revenue or reduce expenses.

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

A professional property manager should handle the heavy lifting, ensuring your investment is protected and profitable without adding stress to your plate.

I only charge markup on maintenance if it's a larger project that requires more coordination, supervision of the work, and inspection after completion.

Congratulationswhat you’ve found that both the INVESTMENT side of real estate, and theBUSINESS side are very competitive; therefore profit margins are compressed, so those “home runs” people like to bragg about are actually quite rare.