The catch is you have to split your profits with Peter 50/50 until you reach 500,000$ profit, and once you have made that mark you get a check written to you for the initial 10,000$ you used a kind of collaterol.

I wrote a Blog on this very subject.You will eventually learn enough to be of help to yourself, just keep doing it and record the prices so you can start to get a feel for SF costs.One thing I can offer is this website,I have checked them out and they are fairly accurate , you enter your zipcode, I just hate for people to be off by even $10k, that could be your profit on some projects, right?

The PM will simply take any profit away. 

You need to set  an expected ROI and set your rents to provide you that profit.

It's been around for many years at this point and it has certainly helped many people.Now, as far as profitability - there are THOUSANDS of businesses that don't show a profit. 

Hey Devin, They can definitely be overwhelming, but they’re crucial for making informed decisions in real estate.As a hard money lender, I often focus on a few key metrics when analyzing deals:ROI (Return on Investment): This is fundamental for assessing the overall profitability of a deal.

Just to bolster one's own credibility, offer to accept a portion of the newbie's first deal profits as a show of good faith.

Meanwhile, I'll be over here running a profiting business.

Unless you're paying cash, your monthly motgage payments are going to be so high that it will take a big hit on your Profit and ROI, right?

Break even is certainly possible and I think it will become more profitable soon as more inventory stays on the market longer and interest rates come down.