I just don't want the contractors to eat up all my equity because I'm a newb.

You want to make sure you have a solid plan for what you'll do with the equity though. a 30k spread on a 120k house SOUNDS good, but a 80% cash out eats all that up.

Certainly the toughest aspect of real estate is eating.

Although, it was only recently that I've challenged myself to avoid eating out this month.

My expenses eat up the profit I would love to make 250 in profit but I cant see it working out. 

Never heard of them.But want to say welcome to BP community, hope all is well.What was my driving force was eating up audio books to speed up the gaining knowledge process, in return I would gather my questions faster for more deeper research.also all podcast/video-blogs from BP, listen to all of them until you start feeling a craving for a certain niche, then focus more on that new found hunger.recommended books:-Rich Dad Poor Dad-Millionaire Real Estate Agent (known as the Red book within REA's)-Millionaire Real Estate Investor (known as the Blue book within REA's)-4 hour work week-The E Myth for Real Estate Investors-Profit First-10x Rule-Ultimate Beginner's Guide to Real Estate Investing (free from BP)Good luck, you seek , you will find#keepthehustle #lifeisworthliving #rethinklife

Is your broker eating the appraisal cost or passing it along to you?

It's like people will tell you to be healthy, all you have to do is exercise and eat right.

Just eat the extra $1500 as profit that you pay tax on.   

After years of struggling just to get by and eating Taco Bell every night because my wife was a manager and got free food I can say were in a pretty good place right now.