I have also purchased using Real Wealth Network, and they do a much better job of vetting the local markets and providers and will stop recommending any providers or vendors if investors are giving poor feedback. 

A project with a 75% cost to ARV will still turn a profit.This thing goes wrong when the GC arm of the process fails, neglects, steals, becomes unresponsive, misappropriate funds, does a poor job. 

I do not see any of those scenarios as likely and therefore see poor/negative cash flow at max LTV refi continuing for some time.  

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.

You need to adjust for inflation--back in 17 that wasn't on folks radars--and health costs.We do this now because of satisfaction, interest, and everything in between.

It's cool to know how to use tools to a do analysis but it has to be utilized properly.I have seen several flippers who have read Rich Dad Poor Dad; had every Performa, chart, analysis package, market analysis reports, cost benefit analysis, work break down structures, IMS and much more and botched every project. 

The 8 unit has required more time and energy because it had been poorly managed for years.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

These 10 cabins I am buying have been very poorly operated, so I am buying them almost strictly at property value.

For every good matching comp at a high price theres 16 poor priced matching comps that the appraisers only focus on.