I'm looking forward to how much fun it will be to see the fruits of my labor: i.e. newly renovated homes for great people to buy and enjoy, and fat checks with my (or my company's) name on them lol!

I'm submitted my first offer today.Sq Ft = 1,018List Price = $65,000Initial Offering Price = $32,000Max Limit = $40,000ARV = $125,000Realtor Fees = $7,000Closing Costs (Buy & Sell) = $1,200Inspection Fee = $350Holding Costs (Personal Loan) @ 6 months = $4-6,000Total Variable OH = $14,550Rehab Costs w/ contingency = $34,900Net Profit (ARV - Variable OH - Rehab Costs - Purchase Price) = $35,550Net Profit After-Tax (Impose short-term capital gains rate at 39.6%) = $21,827Work that needs to be done:Rebuild mudroom and re-route washing machine/dryer lines = $4,000Kitchen Rebuild: Cabinets = $1,000Granite CT installed, sealed, beveled = $1,400 New appliances (may use a 2nd hand shop) = $3,500Flooring and back splash = $1,500TOTAL Kitchen = $7,400HVAC (received quote w/ ducting install) = $6,000Front porch repair = $1,000Half-bath install 12 sq ft (@ $100 per sq ft) plus cost of supplies & equipment = $3-4,000Add closets to each bedroom = $1,500Fix ceiling water damage = $2-3,000 Foundation leveling (house has settled) = $1-2,000Renovate full bath (replace tub, new vanity, replace toilet, re-tile) = $2,500Simple landscaping (mulch and shrubs) = $500Fixtures and Hardware = $1,000Contingency = $2,000GRAND TOTAL = $34,900I'll be doing the majority of the work but will have to sub-contract out construction of the mudroom, half-bath install, and closets.Immediate Questions I'm concerned about:1) Cost to rebuild mudroom.

@Marvin Stewart One suggestion when you do need to turn the property over would be to use an ozone machine. 

I'm definitely going to subscribe.Peter Conti/Jerry Norton - oh boy. literally an hour ago I was on their webinar about the quick flip money machine. what a flipping joke (badum bum).

Remember - be a machine.

I am not involved in flipping but know once the news stations start saying it the market will become about nonsense instead of numbers.It's kind of like a stock everyone is saying to buy is when the smart people sell to them and get out.I am sure we will see in the next 6 to 12 months articles like "The real estate money making machine is back !

.- If you don't submit to the new x-ray machines they have at many airports now, you *must* submit to a full pat-down; this includes having your genitals grabbed through your pants.

Testing is inexpensive, and is done with portable X-Ray Fluorescence machines (we use the Thermo Niton units).

Ex: He took a washing machine & dryer out of one and stored it in his garage until my next vacancy came up that needed one, he does drive-by's for us regularly.

Colin Schleining I don't know any contractors for residential, we self perform our contracts (we do everything with our employees), we don't need subs unless it is a specialty, like asphalt paving, or something with machine intensive.