As it turns out, the profits are nearly identical.Off market is just a marketing term, most of the wholesale properties are very much ON Market, just not on the MLS perhaps, unless they were bought off MLS. 

If there are roof issues, trees over hanging the roof, debris in the yard or whatever client's are getting non-renewal notices.The vast majority of insurance carriers are unprofitable or have just now started to return to profitability from several bad years.

So I take what you have and what you expect, estimate the time it would take in a whole year of work and create my flat rate.I notice short term rentals are about 1 hour a month of work per property, since we need to track each property's Profit & Loss for Tax time, this is also tracking a mortgage and depreciation as well for that property.

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.