With these numbers, we anticipated a quick sale and approximately $61k in profit.

.*** Make sure you know how to estimate repair costs.

It can help you analyze potential properties, estimate cash flow, and evaluate your returns.

I rarely look at it and certainly not for value estimates. 

Borrowing Against Equity: Costs and ExpensesCost of Cash-Out Refinance or Home Equity Loan:Interest Rate: Assume a 4% interest rate over 30 years.Monthly Payment: Approximately $716 per month.Total Interest Paid Over 30 Years: Approximately $108,000.Closing Costs:Typically, 2% to 5% of the loan amount.

Based off previous property taxes payed by the family member, we estimate the property to be worth roughly 100k once livable.

Debt. org estimates that the average household with a credit card carries $8,396 in debt.

. +30% vacancy for 24 months, caused by two evictions, one unit on market for 7 months, and the two new properties taking 1 year in renovations instead of 4 month estimate (~$30k of lost income above assumption of 10%)2. $45k from several unexpected large repairs (water leaks, roof collapse, siding rot, plumbing main line, etc.)These issues are also causing me to rethink the assumptions in my model, increasing my vacancy rate from 8% to 12%, repairs from 5% to 20%, and capex from 5% to 20%.

Cash-on-cash return for this home is 20.50% and the estimated time to recover original cash invested will be4.88 years if rent remains the same and no major expenses occur.

When you ran your numbers what was your profit estimate?