We failed after spending 10K with city and survey. 

You're going to want to set aside for water heaters, furnace repairs (which are hella expensive because they only fail when it's an emergency) and the roof.That all said, when I first started, I broke even for a while.

Some examples:Scenario #1)Owner inherited it from mother, used it as collateral for cash-out refinances to fund a failing small business. 

@Carlina Burford if the owner has had 3 accepted offers presumably from a bank (based on the fact it failed inspection), I'd be extremely surprised if they were to accept your offer based essentially on the land value.

If he fails then you replace the guy.

I feel this is misleading and sending a lot of new investors down a failing rabbit hole.

You failed to get our original point that using a Quit Claim in Texas CREATED a title issue.  

If I fail to pay my electric on time....it gets cut offIf I fail to pay my water bill......it gets cut offCell phone bill, Insurance and insert all other payments.....they get cut offIf I am on Section 8 housing and I do not go to my appointments or fulfill the requirements.....my benefits get cut off Can you tell me any contractual agreement that if I do not pay that I do not get terminated ?

Starting on the siding and roofing and all the finishing touches, we can’t wait to be done and start our next house which is vacant and demo begins in 3 weeks (follow to see updates) What I’m getting at is, the flipping world is not for the weak, you will get beat down, you will fail but in the end once you finally achieve your goals and jump those hurdles you’ll be sitting in a heating house looking at your accomplishments and realize everything you’ve worked so hard for this past few months is now a reality and it’s time to enjoy it!

Starting on the siding and roofing and all the finishing touches, we can’t wait to be done and start our next house which is vacant and demo begins in 3 weeks (follow to see updates) What I’m getting at is, the flipping world is not for the weak, you will get beat down, you will fail but in the end once you finally achieve your goals and jump those hurdles you’ll be sitting in a heating house looking at your accomplishments and realize everything you’ve worked so hard for this past few months is now a reality and it’s time to enjoy it!