How much profit do you have in your current house?  

For example, several of our clients last year did not have a primary intention of profitability. 

I know that it eats into profits but it is something to consider for at least your first rental.

Consult a CPA or real estate attorney to understand tax implications, build a reserve fund for unexpected costs, and research local regulations to ensure a smooth and profitable transition into rental property ownership.Good luck!

If anyone does this, theyre likely doing it as a favor and not a for-profit venture. 

The hard part on every fix and flip is to find a property with enough meet on the bone to make a good profit.

That said, when there are profits for both sides of the equation (borrowers & lenders), private investors/hard money lenders are more inclined to favor the project.

I think you run a real risk of your second rental eating up the profits you're enjoying on the first one.

Question is, was it profitable to do all this?

The profit was used to buy a higher quality SFH in the same area.