This is horrible.

It was horrible. 

For two reasons: 1. there are still a lot of big investors and hedge funds there who are eating up all the inventory, making it hard for individuals to find a lot and 2. appraisals in Atlanta are horrible due to a broken appraisal system, so even if in theory you are getting a property under value, the true 'market value' may be impossible to prove.Hopefully that's not too big of a buzzkill but either way I think you'll do great!

It's not a horrible solution, but I'd love to not be out of pocket $100K for the next year.

They get dinged and damaged too quickly and just look horrible with the dings in them.

So yeah if you make 380k on a flip that's great but the ROI % shows how well you're using the input money as well. if it takes you 10MM to make 380k you can still certainly live off that, but it would be a horrible use of capital.also, negotiating between 16% and 22% is crazy since both returns r really high.

Update - The house failed ( horribly ) the inspection and the ad was very misleading.New HVAC was actually 7 years old ( and didn't work )New water heater was actually 16 years oldAlso had foundation issues.The agreed to drop the price by -10K, but I figured I would pass on this one,

Home Depot customer service is horrible.

And the OP did a horrible job of performing due diligence on this guy and shouldn't have hired him in the first place.Either way, the OP messed up.

We used Mexlaw too but their lawyer was horrible and was fired the day before we signed our contract.