I am on the board of the RPA (Rental Property Association of Wisconsin, a non-profit) and typically hear if things like this are an issue from our members or attorneys.

you'll probably still need something long term like software as others have suggested but this was a thought i had... you could see the actual profit or loss from a tax perspective for each property.

I love the properties and the are all profitable.

The larger the purchase price the greater the spread you need between purchase price plus holding costs plus rehab cost and ARV.  40k projected profit on a 600k project is too skinny for me. 

If we do a full rebuild, are retail shops the most profitable? 

It seems the profit would cover taxes, and you would have more capital to do other stuff. 

Then I would do a low risk flip ( rehab less than a few weeks) for hopefully a 10-15% profit, repeat until I have a nice down payment and am sure that I would be able to qualify for a refinance, then buy a buy and hold then continue flipping until I get to the next buy and hold - in theory, the time between each property should decrease as I should be getting capital from the buy + hold as well as I would already have my reserves built up.

To make my question short, my wife and I just sold our house in Lincoln and made a profit from it.

I am primarily focused on appreciation, but would like some cashflow to keep the investment profitable year-to-year.

Quote from @Daniel Huang: Hi, I am trying to transition to develop my rental income as I am in the final years of my professional career.