Mold grows deep, don’t trim it off the cheese in your refrigerator and eat the rest that looks fine.

I see a lot of people eat it 1. on the rehab and 2. overshooting the ARV and then holding it on the market too long to make that price work. 

Then they act surprised that they have to pay the mortgage for the other 40 weeks of the year with literally zero income.On top of that, people want to use their own houses and only want to use it during the nice 10 week season, which further eats into their profits in northern areas.

My wife and I were basically living off the account's interest last year but knew that if and when the market went south we'd start to eat into principle which was not sustainable. 

That is a LOT of money to throw down the drain and would quickly eat in to any potential profits on the back side. 

By the time you take out circulation space by the front door and by the eat-at-bar that size is probably more like 12'x9' for the actual usable space.

Even at $150k your profit margain is to tight one miss step should eat up your profit.

@Shain Ismailovski yeah the area is more ideal for people who want to buy a big house on a budget, I wouldn't reccomend it for flips though as properties there often don't sell very fast you'll end up eating holding costs.

I bet that they are on one of those programs where they only have to pay a certain amount for electricity all year round, and so they prefer to heat with electricity because it's "all you can eat", rather than with gas, but I don't know. 

@Heather FruscoLolz I have been doing that no problem, was just wondering if anyone had a scenario where it actually worked out and didn't eat up 85 percent of revenue per rental every 3 to 6 months.