All cash costs, and negative CF is a loss, must be recovered before you can make a profit. 

My house was the last street built from previous construction.   

You wouldn't believe how last-minute bookings are right now.

My last purchase i am up ~$1m working it very part-time over the last 3 years and i have some small (for the equity position, ~3k/month) cash flow.  

https://www.har.com/content/department/mlsHouston Real Estate Highlights in November, 2024:-Single-family home sales increased 6.0 percent year-over-year;-Days on Market (DOM) for single-family homes went from 48 to 52 days;-Total property sales were up 3.3 percent with 7,750 units sold;-Total dollar volume rose 11.1 percent to $3.1 billion;-The single-family median price was up 1.5 percent to $329,900;-The single-family average price climbed 4.1 percent to $418,903; -Single-family home months of inventory registered a 4.4-months supply, up from 3.5 months last November.

Also would love to know from other members how much they spent on the last project and what is a good contigency to put on the final cost for a first timer.

Lastly, know that any conventional loan likely has a 'due on sale' clause, where if you change the title of the property, they can call your note due.

The more you know upfront, the less your spreadsheet surprises you down the road.One last note: I’m not a lawyer or CPA, so keep this strictly as friendly advice.

The problem we are having this year is that IHA never stopped paying after the last two residents moved out. 

It has sat empty for the last 20 years but the current owners have completely gutted it, have bids from contractors they're willing to share, cost estimates etc. and have had lots of inspections done and so much pre-work with the city and county to figure out what they can and can't do, so a solid plan is already in place.