And I am probably on the lower end on both of those numbers from most big time flippers.Ways to make this work:-drop your offer by $5k or tell them you will pay $82k if they carry finanincing for the project with an interest only loan at 10% (will net save you $4,000)-get at least 2 more quotes on your rehab (may save may not)-if this is an mls property, ask the agent you are using to buy if they would be willing to list the property for 2% because they will make 3% at the sale and more on the back end (will save you $1,300)This will move your profit up to roughly $13k which is a little bit better but still cutting it close.

I was traveling so we asked the water company to cut the water on at the meter but leave it off to the house.

We have cut ties with the contractor we were using as they decided to avoid phone calls with us following the tear down.   

So the passive income is great, but understand that repairs and unexpected expenses will cut into that from time to time. 

There is also a place where a kitchen can be installed (my mother used to have one there, but removed the stove and had the gas cut off), and there is also a place for a full sized washer and gas dryer in the basement.

On same day turn arounds we ask the outgoing guests to start a load of towels so it will cut down on the time needed to do the laundry.

Right now I could not afford the pay cut. 

He isn't business minded, and is cut from the cloth of "you get a good job, with good benefits, and a pension so you can retire."

I posted here to try to work smart, and cut that list down to a few good options. 

It is cut throat in some major metropolitan areas.