I realize the conflict but I think it would be a jerk thing to do to cut his small commission in half. 

ITT had to shut down because they did not meet standards when dealing with federal loans - certainly not a "job cut" situation. 

This all depends on your ability to about 20 different things: outsourcing work, marketing, cost cutting, management, etc. 

Some anecdotal evidence - speaking to the gal at Lowe's who was cutting keys for me in Weaverville, she said finding anything south of $1200 for a 2/1 was tough and on retail salary she is priced out of the market.  

I agree with you, $40k is not going to cut it for a San Diego flip.

I'm in the southeast Nashville Edge O Lake Area.

If I reduce my expenses and live frugally I can cut down how much rental income I need. 

I prefer to work smarter, not harder, and advertise exactly what I'm looking for, which usually cuts down on the "dud lead" calls I get.

They may short cut the fix, leave things wet, and create an environment for mold. letting an unqualified person work on electrical can be a huge liability if they get hurt or burn the place down.

Business is cut throats and some people just want you to lose.