Its a good thing they profited, because projects can go south sometimes and then that really hurts.  

I ended up making a profit that paid for my wedding and honeymoon!

.- Potential for quick profits - Enhances property value - - Adaptable to market trendsCons.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Consider offering equity partnerships, debt financing with profit sharing, or preferred equity, where investors get a fixed return before you share profits.

Honestly, I never fully understood what they meant—until recently.I’ve been diving into some larger-scale real estate projects, specifically in commercial properties and multifamily development.

So that the tenant rent is providing a larger amount of return of capital. 

After some research online, I am reading that the cost per square foot on a gut renovation of this nature in Stamford CT is anywhere from $150-$350, which is ultimately not very helpful, because at $150 per sq ft, this is a very appealing project with a total profit of ~$175K (46% ROI) and at $350 per sq ft, it very much isn't, because it would be a net loss of 83K (haha).QUESTIONS:What can I do refine my estimate a bit given that I am not allowed to a formal inspection on the property? 

Right now you have $1,000 in cash flow that can be used to fund other projects (seed money), pay you in profit to supplement your lifestyle, or fill in any gaps for underperforming properties.  

Made a decent profit for my first experience Lessons learned?

He gives an example of 123 Main street (total profit/total invested capital)/time in years.