On the flip side, you can easily go below 15% profit if you do not perform as mentioned.On a 75% deal, I am looking at 13% of ARV for profit and on an 80% deal, the ONLY way I do it is IF the reghab is lipstick, I am in and out in under 3 months, and I am 100% sure the exit value is easy to get on first week on the MLS, thus my holding costs and financing costs are lower allowing to do the 80% all-in deal.

It can be done in under 10 minutes, 30 minutes if you are new to it, and usually only a few hundred to set up. 

All in I think it came in under $15k

If you don't you will be inundated with information, most of which will not be applicable for you. 

If you fail to factor all these costs, there will be little to no profit, and you will end up losing money, especially if you are all in under its value, and you toss in closing costs/realtor fees. 

Once they list that property (Oh btw they will use photo shop to make the property look as clean as possible) buyers come to preview and they are totally turned off, local buyers agents know it's over priced do not take buyers to preview, if someone offers under the seller rejects or counters at the same overpriced number, days on the market starts to exceed, all the investors are totally rejected, then one buyer comes in at full asking price which is probably an FHA buyer, the appraisal is conducted, comes in under by $75k and the properties back on the market. 

For the parents they had passed in under 4 years and as a result found 3 disinterested parties willing to sign the affidavit, and then the children sign as affiants.I drafted the Affidavits and had the attorney review them, he had some minor comments back which I revised and then sent to the Title company for review.  

Regrettably few tenants realise or appreciate the expense.Renovation expanse wise the only expenses, beyond necessary repairs, are those which the financial cost can be recouped through the portion of the higher rent in under two years time.

I have been purchasing with hard money, and then refinancing after the property is fixed up and rented, so I have some pretty hefty money costs.If similar properties in good condition are selling for $170K, I would want to be in under about $120K

I haven't talked to my lender yet (they emailed me the appraisal tonight), but from what I understand a bank will not lend on a property if it comes in under appraisal, and I don't have the cash to throw down an extra 6k to make up the difference.