We also had to replace two rotten walls and some rotten floor joist and subfloor.

Are you sure you are not just doing replacement therapy and you really should be buying a property? 

It sounds like a big win.

Sounds great Ill look locally first thanks Ryan

I think my partner and I may be exploring a complicated solution - glad to hear that it sounds like one exists!

what Kevin branin said sounds about right.

Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs,  commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?

It sounds like you’ve already made great strides with your four long-term rentals and that you’re committed to learning and expanding your portfolio, even from afar.

It didn't sound like it.

Even if your goal is to replace a W2 income, that only works long term if you are making money.